1,329 Shares in American Tower Co. (NYSE:AMT) Purchased by Values Added Financial LLC

Values Added Financial LLC acquired a new stake in American Tower Co. (NYSE:AMT) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,329 shares of the real estate investment trust’s stock, valued at approximately $309,000.

Several other hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of American Tower by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after purchasing an additional 965,938 shares during the period. M&G Plc bought a new position in American Tower during the first quarter valued at $164,300,000. Finally, International Assets Investment Management LLC increased its position in American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after buying an additional 775,379 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.1 %

Shares of AMT traded up $0.31 during trading hours on Friday, reaching $213.85. 474,910 shares of the company traded hands, compared to its average volume of 2,267,221. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market capitalization of $99.89 billion, a price-to-earnings ratio of 90.10, a price-to-earnings-growth ratio of 1.04 and a beta of 0.83. The company’s fifty day moving average price is $228.45 and its two-hundred day moving average price is $208.46. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Ratings Changes

AMT has been the topic of several research reports. Royal Bank of Canada boosted their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets decreased their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, TD Cowen lifted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.