OneDigital Investment Advisors LLC Sells 219 Shares of American Tower Co. (NYSE:AMT)

OneDigital Investment Advisors LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 2.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,428 shares of the real estate investment trust’s stock after selling 219 shares during the period. OneDigital Investment Advisors LLC’s holdings in American Tower were worth $2,193,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NBT Bank N A NY raised its stake in shares of American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares during the last quarter. CX Institutional increased its holdings in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc lifted its holdings in American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 55 shares during the period. Palumbo Wealth Management LLC lifted its holdings in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC grew its position in shares of American Tower by 4.9% in the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 58 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. BMO Capital Markets cut 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Barclays upped their target price on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen raised their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Scotiabank decreased their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Stock Up 0.9 %

Shares of American Tower stock opened at $196.45 on Friday. The company has a 50-day simple moving average of $222.51 and a two-hundred day simple moving average of $210.86. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $91.80 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings data 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). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.58 earnings per share. On average, analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently announced 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. This represents a $6.48 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 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.