Icon Wealth Advisors LLC Increases Holdings in American Tower Co. (NYSE:AMT)

Icon Wealth Advisors LLC grew its holdings in American Tower Co. (NYSE:AMT) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,165 shares of the real estate investment trust’s stock after buying an additional 332 shares during the quarter. Icon Wealth Advisors LLC’s holdings in American Tower were worth $736,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. PGGM Investments bought a new position in American Tower in the first quarter worth about $220,000. Cetera Investment Advisers lifted its stake in shares of American Tower by 344.2% in the 1st quarter. Cetera Investment Advisers now owns 111,449 shares of the real estate investment trust’s stock valued at $22,021,000 after purchasing an additional 86,359 shares during the period. Cetera Advisors LLC boosted its position in shares of American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after purchasing an additional 9,275 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in American Tower by 24.1% in the first quarter. EverSource Wealth Advisors LLC now owns 907 shares of the real estate investment trust’s stock worth $179,000 after purchasing an additional 176 shares during the period. Finally, Keynote Financial Services LLC bought a new position in American Tower in the first quarter worth $237,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMT. JPMorgan Chase & Co. boosted their target price 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. Royal Bank of Canada upped their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Scotiabank reduced 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, October 30th. Four 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 company’s stock. Based on data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $235.54.

American Tower Stock Down 0.1 %

AMT stock opened at $209.00 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market capitalization of $97.66 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.39 and a beta of 0.84. The business has a fifty day moving average price of $215.95 and a 200-day moving average price of $212.29.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 prior year, the company posted $2.58 EPS. American Tower’s revenue was down 10.5% on a year-over-year basis. Equities analysts forecast 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. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a 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%.

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.