Mizuho Securities USA LLC Decreases Stock Position in American Tower Co. (NYSE:AMT)

Mizuho Securities USA LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,288 shares of the real estate investment trust’s stock after selling 5,718 shares during the period. Mizuho Securities USA LLC’s holdings in American Tower were worth $7,044,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMT. Cultivar Capital Inc. bought a new stake in shares of American Tower during the second quarter worth $25,000. Fortitude Family Office LLC lifted its position in shares of 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 purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of American Tower during the second quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the second quarter worth $29,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the third quarter worth $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMT. Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. TD Cowen lifted their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets reduced their target price on shares of 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. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Barclays reduced their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday. Four equities 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Price Performance

Shares of NYSE AMT opened at $200.88 on Thursday. The business’s 50 day moving average price is $220.12 and its 200 day moving average price is $211.30. The firm has a market cap of $93.87 billion, a P/E ratio of 84.76, a P/E/G ratio of 1.34 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. 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 (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts expect 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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is presently 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.