Fullcircle Wealth LLC Grows Stock Position in American Tower Co. (NYSE:AMT)

Fullcircle Wealth LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,053 shares of the real estate investment trust’s stock after purchasing an additional 61 shares during the quarter. Fullcircle Wealth LLC’s holdings in American Tower were worth $1,123,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Czech National Bank raised its stake in shares of American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of American Tower by 13.8% during the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after purchasing an additional 4,660 shares during the last quarter. Tidal Investments LLC raised its position in American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after acquiring an additional 4,430 shares in the last quarter. Cetera Advisors LLC raised its position in American Tower by 29.0% in the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after acquiring an additional 9,275 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in American Tower by 5.3% in the first quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock worth $172,061,000 after acquiring an additional 43,531 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT traded down $2.28 during trading hours on Friday, reaching $211.26. 1,989,131 shares of the company traded hands, compared to its average volume of 1,935,833. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $98.68 billion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a fifty day simple moving average of $228.14 and a 200 day simple moving average of $208.69.

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 analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 EPS. As a group, research analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm 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. This represents a $6.48 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMT shares. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho increased their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Scotiabank cut their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday. Royal Bank of Canada increased their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, TD Cowen raised their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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.