Sigma Planning Corp Has $1.59 Million Stock Position in American Tower Co. (NYSE:AMT)

Sigma Planning Corp lifted its holdings in American Tower Co. (NYSE:AMT) by 8.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,849 shares of the real estate investment trust’s stock after acquiring an additional 542 shares during the period. Sigma Planning Corp’s holdings in American Tower were worth $1,593,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC grew its position in American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after buying an additional 993,061 shares in the last quarter. Vanguard Group Inc. increased its stake in American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after acquiring an additional 965,938 shares during the period. M&G Plc acquired a new position in American Tower in the 1st quarter valued at $164,300,000. Finally, International Assets Investment Management LLC lifted its position in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after acquiring an additional 775,379 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Royal Bank of Canada upped their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. BMO Capital Markets decreased their price objective 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. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Price Performance

American Tower stock opened at $193.72 on Wednesday. The company has a market capitalization of $90.52 billion, a PE ratio of 81.22, a P/E/G ratio of 1.34 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50-day moving average price of $225.56 and a two-hundred day moving average price of $210.50. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last posted 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). 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 firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.58 earnings per share. Analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s 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.