Quad Cities Investment Group LLC Has $292,000 Position in American Tower Co. (NYSE:AMT)

Quad Cities Investment Group LLC increased its holdings in American Tower Co. (NYSE:AMT) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,594 shares of the real estate investment trust’s stock after purchasing an additional 89 shares during the period. Quad Cities Investment Group LLC’s holdings in American Tower were worth $292,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. HBK Sorce Advisory LLC grew its position in American Tower by 8.2% in the second quarter. HBK Sorce Advisory LLC now owns 1,534 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 116 shares during the period. Thoroughbred Financial Services LLC bought a new stake in shares of American Tower in the 2nd quarter worth about $407,000. Bcwm LLC lifted its holdings in American Tower by 3.2% during the 2nd quarter. Bcwm LLC now owns 26,370 shares of the real estate investment trust’s stock valued at $5,126,000 after purchasing an additional 822 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after buying an additional 464,429 shares in the last quarter. Finally, One Capital Management LLC bought a new stake in American Tower during the second quarter worth about $1,763,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AMT. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Barclays decreased their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Scotiabank decreased 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 report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Four equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.67.

American Tower Trading Up 2.1 %

AMT opened at $177.02 on Tuesday. The firm has a 50 day simple moving average of $194.28 and a 200 day simple moving average of $211.79. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company 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.

American Tower (NYSE:AMT) last issued its 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 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.