American Tower Co. (NYSE:AMT) Shares Sold by Longfellow Investment Management Co. LLC

Longfellow Investment Management Co. LLC reduced its holdings in American Tower Co. (NYSE:AMT) by 20.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,778 shares of the real estate investment trust’s stock after selling 697 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in American Tower were worth $646,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AMT. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the 2nd quarter worth $25,000. Fortitude Family Office LLC lifted its stake in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in American Tower during the second quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter valued at about $30,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMT has been the topic of several research analyst reports. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Scotiabank lowered their price objective on shares of 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. Finally, Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Stock Up 1.0 %

Shares of AMT opened at $206.35 on Monday. The firm has a market cap of $96.43 billion, a PE ratio of 86.21, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s fifty day moving average is $218.75 and its two-hundred day moving average is $211.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 EPS. Analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 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.