American Tower Co. (NYSE:AMT) Stock Position Raised by Savvy Advisors Inc.

Savvy Advisors Inc. grew its holdings in shares of American Tower Co. (NYSE:AMT) by 268.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,463 shares of the real estate investment trust’s stock after purchasing an additional 3,251 shares during the quarter. Savvy Advisors Inc.’s holdings in American Tower were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Patron Partners LLC raised its position in shares of American Tower by 4.0% in the third quarter. Patron Partners LLC now owns 3,372 shares of the real estate investment trust’s stock valued at $784,000 after purchasing an additional 131 shares during the period. Entropy Technologies LP acquired a new stake in American Tower during the third quarter worth about $4,846,000. Nations Financial Group Inc. IA ADV raised its holdings in American Tower by 5.7% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 5,794 shares of the real estate investment trust’s stock valued at $1,347,000 after acquiring an additional 315 shares in the last quarter. Cottonwood Capital Advisors LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $214,000. Finally, Jag Capital Management LLC lifted its position in American Tower by 2.4% in the third quarter. Jag Capital Management LLC now owns 10,449 shares of the real estate investment trust’s stock worth $2,430,000 after purchasing an additional 243 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. Barclays raised their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen boosted their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price 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. Finally, Scotiabank reduced their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Stock Down 0.4 %

Shares of NYSE AMT opened at $195.30 on Tuesday. 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 has a market capitalization of $91.26 billion, a PE ratio of 82.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The firm’s 50-day moving average is $225.56 and its 200-day moving average is $210.50. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last released its earnings results 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 business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 EPS. Equities analysts expect 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. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

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.