James Investment Research Inc. Decreases Position in American Tower Co. (NYSE:AMT)

James Investment Research Inc. cut its position in American Tower Co. (NYSE:AMT) by 2.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,605 shares of the real estate investment trust’s stock after selling 208 shares during the period. James Investment Research Inc.’s holdings in American Tower were worth $2,234,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. NBT Bank N A NY lifted its stake in shares of American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares during the period. CX Institutional grew its holdings in shares of American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 54 shares in the last quarter. O Brien Greene & Co. Inc grew its holdings in shares of American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 55 shares in the last quarter. CFO4Life Group LLC grew its holdings in shares of American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 57 shares in the last quarter. Finally, Palumbo Wealth Management LLC grew its holdings in shares of American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Down 1.1 %

Shares of AMT opened at $211.26 on Friday. The stock has a market capitalization of $98.68 billion, a PE ratio of 89.14, a P/E/G ratio of 1.49 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.81 and a current ratio of 0.69. The company’s 50-day simple moving average is $228.14 and its 200-day simple moving average is $208.69.

American Tower (NYSE:AMT) last issued its 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). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. Analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.07%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Scotiabank dropped their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays upped their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Profile

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.