Fiduciary Trust Co Acquires 3,789 Shares of American Tower Co. (NYSE:AMT)

Fiduciary Trust Co grew its holdings in American Tower Co. (NYSE:AMT) by 6.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,687 shares of the real estate investment trust’s stock after purchasing an additional 3,789 shares during the period. Fiduciary Trust Co’s holdings in American Tower were worth $13,881,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Cultivar Capital Inc. bought a new position in American Tower in the second quarter valued at approximately $25,000. Fortitude Family Office LLC grew its stake in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new stake in American Tower during the second quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the second quarter valued at $29,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMT. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Four 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 company. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Trading Up 0.6 %

Shares of AMT stock opened at $209.31 on Thursday. The stock has a market cap of $97.81 billion, a P/E ratio of 88.32, a price-to-earnings-growth ratio of 1.38 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 current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day simple moving average of $216.94 and a 200 day simple moving average of $212.14.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.