American Tower Co. (NYSE:AMT) Shares Sold by Bamco Inc. NY

Bamco Inc. NY decreased its position in shares of American Tower Co. (NYSE:AMT) by 64.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,717 shares of the real estate investment trust’s stock after selling 349,770 shares during the quarter. Bamco Inc. NY’s holdings in American Tower were worth $44,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in AMT. Cultivar Capital Inc. acquired a new position in shares of American Tower in the second quarter valued at approximately $25,000. Fortitude Family Office LLC boosted 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 acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new position in American Tower in the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower during the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets decreased their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Barclays decreased their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Stock Performance

Shares of AMT opened at $207.33 on Tuesday. 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 12-month low of $170.46 and a 12-month high of $243.56. The business’s fifty day moving average price is $215.95 and its 200 day moving average price is $212.61. The stock has a market capitalization of $96.88 billion, a PE ratio of 87.48, a price-to-earnings-growth ratio of 1.39 and a beta of 0.83.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) 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 the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.