Systematic Alpha Investments LLC lessened its holdings in American Tower Co. (REIT) (NYSE:AMT) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,764 shares of the real estate investment trust’s stock after selling 110 shares during the quarter. Systematic Alpha Investments LLC’s holdings in American Tower were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Destiny Wealth Partners LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at approximately $30,000. Canton Hathaway LLC acquired a new position in American Tower in the 3rd quarter valued at $31,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of American Tower during the 2nd quarter valued at $34,000. Albion Financial Group UT purchased a new stake in shares of American Tower during the 2nd quarter valued at $36,000. Finally, GeoWealth Management LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at $37,000. 89.57% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on AMT shares. KeyCorp boosted their price objective on shares of American Tower from $302.00 to $311.00 and gave the company an “overweight” rating in a research note on Friday, October 29th. Wells Fargo & Company decreased their price target on shares of American Tower from $305.00 to $285.00 and set an “overweight” rating for the company in a research report on Friday, November 19th. JPMorgan Chase & Co. cut shares of American Tower from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $285.00 to $271.00 in a research report on Wednesday, January 5th. Credit Suisse Group upped their price objective on shares of American Tower from $324.00 to $328.00 and gave the company an “outperform” rating in a research report on Friday, October 29th. Finally, Raymond James decreased their price objective on shares of American Tower from $296.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, November 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, American Tower has an average rating of “Buy” and a consensus target price of $293.63.
NYSE:AMT traded down $7.79 during trading hours on Tuesday, reaching $256.62. 15,858 shares of the company’s stock were exchanged, compared to its average volume of 2,454,743. The company has a market capitalization of $116.87 billion, a P/E ratio of 48.07, a price-to-earnings-growth ratio of 2.03 and a beta of 0.37. American Tower Co. has a 12 month low of $197.50 and a 12 month high of $303.72. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 3.32. The business’s 50-day simple moving average is $273.01 and its two-hundred day simple moving average is $278.55.
American Tower (NYSE:AMT) last issued its quarterly earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.27 by ($0.69). The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.41 billion. American Tower had a net margin of 27.44% and a return on equity of 39.34%. The firm’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.23 EPS. As a group, sell-side analysts anticipate that American Tower Co. will post 9.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Monday, December 27th will be given a $1.39 dividend. This represents a $5.56 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 23rd. This is an increase from American Tower’s previous quarterly dividend of $1.31. American Tower’s dividend payout ratio is 101.09%.
American Tower Company Profile
American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.
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