Second Line Capital LLC Raises Position in American Tower Co. (NYSE:AMT)

Second Line Capital LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,856 shares of the real estate investment trust’s stock after buying an additional 138 shares during the period. Second Line Capital LLC’s holdings in American Tower were worth $2,757,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AMT. NBT Bank N A NY increased its position in shares of American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional boosted its stake in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the last quarter. O Brien Greene & Co. Inc grew its holdings in shares of American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 55 shares in the last quarter. Palumbo Wealth Management LLC raised its position in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC lifted its stake in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMT shares. Deutsche Bank Aktiengesellschaft raised their target price 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. Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, Mizuho lifted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Four 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, American Tower currently 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 $199.58 on Wednesday. The stock has a 50 day moving average of $212.85 and a two-hundred day moving average of $213.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock has a market cap of $93.26 billion, a P/E ratio of 84.21, a P/E/G ratio of 1.38 and a beta of 0.83. 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 (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business 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 business posted $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio 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.