American Assets Capital Advisers LLC Sells 5,823 Shares of American Tower Co. (NYSE:AMT)

American Assets Capital Advisers LLC reduced its position in American Tower Co. (NYSE:AMT) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,000 shares of the real estate investment trust’s stock after selling 5,823 shares during the quarter. American Tower makes up about 7.4% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 3rd biggest holding. American Assets Capital Advisers LLC’s holdings in American Tower were worth $24,186,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMT. Cultivar Capital Inc. acquired a new stake in American Tower during the second quarter worth about $25,000. Fortitude Family Office LLC raised its position in shares of 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 purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new stake in shares of American Tower in the 2nd quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the 2nd quarter valued at approximately $29,000. Finally, Northwest Investment Counselors LLC bought a new position in American Tower during the 3rd quarter worth $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

NYSE:AMT traded down $2.72 during mid-day trading on Tuesday, reaching $193.36. 970,890 shares of the stock were exchanged, compared to its average volume of 2,312,529. 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 firm has a market capitalization of $90.36 billion, a PE ratio of 82.73, a PEG ratio of 1.34 and a beta of 0.84. The business has a fifty day moving average price of $225.56 and a 200 day moving average price of $210.50.

American Tower (NYSE:AMT) last released its earnings results 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 business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. Research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMT shares. Royal Bank of Canada boosted their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price 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. JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. TD Cowen boosted their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.