American Tower Co. (NYSE:AMT) Position Cut by Alkeon Capital Management LLC

Alkeon Capital Management LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 0.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 428,730 shares of the real estate investment trust’s stock after selling 395 shares during the period. Alkeon Capital Management LLC owned 0.09% of American Tower worth $99,705,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of AMT. Cultivar Capital Inc. bought a new position in American Tower in the 2nd quarter worth about $25,000. Fortitude Family Office LLC grew its holdings in American Tower by 269.0% in the 3rd 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 American Tower in the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC bought a new stake in American Tower during the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in American Tower during the 3rd quarter worth $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of a number of recent analyst reports. Barclays cut their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Scotiabank lowered their price target on 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 analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Trading Up 0.6 %

Shares of AMT opened at $209.30 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market capitalization of $97.80 billion, a P/E ratio of 88.31, a P/E/G ratio of 1.39 and a beta of 0.84. The business’s 50-day moving average price is $216.48 and its 200 day moving average price is $212.12.

American Tower (NYSE:AMT) last released 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 firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. Analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued 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 dividend yield of 3.10%. American Tower’s dividend payout ratio is 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.