American Tower Co. (NYSE:AMT) Shares Acquired by Bar Harbor Wealth Management

Bar Harbor Wealth Management grew its holdings in American Tower Co. (NYSE:AMT) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,359 shares of the real estate investment trust’s stock after purchasing an additional 1,010 shares during the quarter. Bar Harbor Wealth Management’s holdings in American Tower were worth $4,468,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CX Institutional boosted its holdings in shares of American Tower by 2.9% during the third 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 stake in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 55 shares during the period. Palumbo Wealth Management LLC raised its position in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the period. Rehmann Capital Advisory Group grew its position in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 2.1 %

Shares of AMT traded up $3.56 during trading hours on Monday, reaching $177.02. The company’s stock had a trading volume of 1,787,985 shares, compared to its average volume of 2,344,296. 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 firm has a market cap of $82.72 billion, a price-to-earnings ratio of 74.69, a P/E/G ratio of 1.31 and a beta of 0.84. The company has a 50 day moving average of $194.98 and a two-hundred day moving average of $211.92. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results 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 business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 EPS. As a group, research analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets decreased their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Barclays reduced their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.67.

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.