Stifel Financial Corp Sells 19,634 Shares of American Tower Co. (NYSE:AMT)

Stifel Financial Corp reduced its position in American Tower Co. (NYSE:AMT) by 5.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 350,417 shares of the real estate investment trust’s stock after selling 19,634 shares during the quarter. Stifel Financial Corp owned about 0.07% of American Tower worth $81,506,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMT. NBT Bank N A NY raised its stake in American Tower by 3.3% in the second 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 in the last quarter. CX Institutional raised its position in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares in the last quarter. O Brien Greene & Co. Inc lifted its holdings in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 55 shares during the last quarter. Palumbo Wealth Management LLC grew its position in American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC increased its stake in American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of several research analyst reports. Barclays dropped their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Wells Fargo & Company lowered 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 research note on Thursday, October 10th. Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Mizuho increased their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Performance

Shares of NYSE:AMT opened at $207.10 on Friday. 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 company has a market cap of $96.78 billion, a price-to-earnings ratio of 87.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a 50-day moving average price of $213.78 and a 200-day moving average price of $212.73.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. As a group, equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

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.