Atom Investors LP Has $3.51 Million Holdings in American Tower Co. (NYSE:AMT)

Atom Investors LP trimmed its stake in American Tower Co. (NYSE:AMT) by 75.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,103 shares of the real estate investment trust’s stock after selling 46,117 shares during the period. Atom Investors LP’s holdings in American Tower were worth $3,512,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC grew its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the third quarter valued at approximately $30,000. Cultivar Capital Inc. acquired a new position in shares of American Tower in the second quarter valued at $25,000. Finally, Hara Capital LLC bought a new position in American Tower in the third quarter worth $31,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock opened at $209.00 on Monday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50 day moving average is $215.95 and its 200-day moving average is $212.61. The firm has a market capitalization of $97.66 billion, a price-to-earnings ratio of 88.19, a PEG ratio of 1.39 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm 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 firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. Sell-side analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. American Tower’s payout ratio is presently 273.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays dropped their price objective 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. JPMorgan Chase & Co. raised their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. 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 note on Wednesday, October 30th. Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Royal Bank of Canada upped their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. 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 stock. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Company 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.