Mine & Arao Wealth Creation & Management LLC. Sells 70 Shares of American Tower Co. (NYSE:AMT)

Mine & Arao Wealth Creation & Management LLC. lowered its holdings in American Tower Co. (NYSE:AMT) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,446 shares of the real estate investment trust’s stock after selling 70 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in American Tower were worth $569,000 at the end of the most recent reporting period.

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

American Tower Stock Performance

Shares of AMT stock opened at $197.87 on Friday. The company’s fifty day moving average price is $227.07 and its 200-day moving average price is $209.71. The stock has a market cap of $92.46 billion, a PE ratio of 83.49, a price-to-earnings-growth ratio of 1.38 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 Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS 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 business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm earned $2.58 EPS. The company’s revenue was down 10.5% on a year-over-year basis. On average, equities analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMT. Mizuho increased their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Company 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.