Elevated Capital Advisors LLC Purchases 263 Shares of American Tower Co. (NYSE:AMT)

Elevated Capital Advisors LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,021 shares of the real estate investment trust’s stock after purchasing an additional 263 shares during the quarter. Elevated Capital Advisors LLC’s holdings in American Tower were worth $738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in 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 acquiring an additional 78 shares during the period. Fairscale Capital LLC bought a new position in shares of American Tower in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the third quarter worth approximately $30,000. Hara Capital LLC purchased a new stake in American Tower during the third quarter valued at approximately $31,000. Finally, Legacy Investment Solutions LLC bought a new position in American Tower in the third quarter worth approximately $34,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AMT shares. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Scotiabank reduced their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $230.67.

American Tower Trading Up 2.1 %

Shares of NYSE:AMT traded up $3.56 during trading on Monday, hitting $177.02. The company had a trading volume of 2,409,180 shares, compared to its average volume of 2,473,299. The stock has a market cap of $82.72 billion, a price-to-earnings ratio of 74.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a fifty day simple moving average of $194.98 and a two-hundred day simple moving average of $211.92. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 earnings per share. As a group, equities analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company 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 $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s 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.