Baldwin Investment Management LLC Decreases Holdings in American Tower Co. (NYSE:AMT)

Baldwin Investment Management LLC reduced its stake in American Tower Co. (NYSE:AMT) by 1.0% during the third quarter, according to its most recent filing with the SEC. The fund owned 13,321 shares of the real estate investment trust’s stock after selling 130 shares during the quarter. Baldwin Investment Management LLC’s holdings in American Tower were worth $3,098,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Balentine LLC purchased a new position in American Tower in the third quarter valued at approximately $586,000. Czech National Bank raised its position in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares during the period. Tidal Investments LLC boosted its holdings in American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after buying an additional 4,430 shares during the period. Cetera Advisors LLC raised its holdings in American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares during the period. Finally, Banque Cantonale Vaudoise lifted its position in shares of American Tower by 46.8% during the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after acquiring an additional 8,195 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of recent research reports. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays reduced their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Scotiabank lowered their price objective on 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. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Trading Up 0.3 %

AMT opened at $208.09 on Wednesday. The stock has a market cap of $97.24 billion, a PE ratio of 87.80, a PEG ratio of 1.38 and a beta of 0.84. The business has a 50 day moving average of $217.47 and a 200-day moving average of $212.16. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

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 return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.11%. American Tower’s dividend 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.