American Tower Co. (NYSE:AMT) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lessened its position in shares of American Tower Co. (NYSE:AMT) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,768 shares of the real estate investment trust’s stock after selling 351 shares during the period. NorthRock Partners LLC’s holdings in American Tower were worth $644,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in American Tower during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new position in American Tower during the 3rd quarter worth approximately $30,000. Cultivar Capital Inc. bought a new position in American Tower during the 2nd quarter worth approximately $25,000. Finally, Hobbs Group Advisors LLC bought a new position in American Tower during the 2nd quarter worth approximately $29,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.8 %

Shares of NYSE AMT opened at $213.86 on Wednesday. The business has a 50-day moving average price of $227.63 and a two-hundred day moving average price of $209.79. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The firm has a market capitalization of $99.89 billion, a PE ratio of 90.24, a PEG ratio of 1.48 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $2.58 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, 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 issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.03%. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays raised their price target on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.