Activest Wealth Management Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Activest Wealth Management lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 431.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154 shares of the real estate investment trust’s stock after purchasing an additional 125 shares during the quarter. Activest Wealth Management’s holdings in American Tower were worth $36,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after purchasing an additional 243,061 shares during the last quarter. Banco Santander S.A. lifted its holdings in shares of American Tower by 131.0% in the 3rd quarter. Banco Santander S.A. now owns 53,638 shares of the real estate investment trust’s stock valued at $12,474,000 after acquiring an additional 30,419 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in American Tower by 6.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,537,892 shares of the real estate investment trust’s stock valued at $822,772,000 after purchasing an additional 226,999 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of American Tower during the third quarter worth $233,000. Finally, Landscape Capital Management L.L.C. bought a new stake in American Tower during the 3rd quarter valued at $364,000. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AMT. Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. BMO Capital Markets lowered their price objective 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. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada increased their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Down 0.6 %

Shares of AMT stock traded down $1.24 during trading hours on Thursday, reaching $199.64. 83,178 shares of the company’s stock were exchanged, compared to its average volume of 2,314,012. 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 stock has a market cap of $93.29 billion, a PE ratio of 84.76, a PEG ratio of 1.34 and a beta of 0.84. The stock’s fifty day moving average price is $220.12 and its two-hundred day moving average price is $211.30.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the firm posted $2.58 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

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. This represents a $6.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio 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.