Haverford Trust Co Has $43.63 Million Stake in American Tower Co. (NYSE:AMT)

Haverford Trust Co cut its stake in shares of American Tower Co. (NYSE:AMT) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 187,602 shares of the real estate investment trust’s stock after selling 645 shares during the period. Haverford Trust Co’s holdings in American Tower were worth $43,629,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Cozad Asset Management Inc. raised its stake in American Tower by 7.5% in the first quarter. Cozad Asset Management Inc. now owns 1,472 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 103 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in American Tower by 19.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 550,026 shares of the real estate investment trust’s stock valued at $108,680,000 after buying an additional 89,653 shares during the period. D Orazio & Associates Inc. bought a new stake in American Tower in the first quarter valued at approximately $202,000. Condor Capital Management raised its stake in American Tower by 10.5% in the first quarter. Condor Capital Management now owns 16,975 shares of the real estate investment trust’s stock valued at $3,354,000 after buying an additional 1,616 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after buying an additional 4,660 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price 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. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Scotiabank lowered their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. TD Cowen increased their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. 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. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Down 1.2 %

Shares of NYSE:AMT opened at $193.72 on Wednesday. The firm has a market cap of $90.52 billion, a P/E ratio of 81.74, a P/E/G ratio of 1.31 and a beta of 0.84. 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 Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The business has a fifty day simple moving average of $225.56 and a 200 day simple moving average of $210.50.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate 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 period last year, the business posted $2.58 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.35%. American Tower’s dividend payout ratio (DPR) 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.