American Tower Co. (NYSE:AMT) Shares Sold by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC cut its holdings in American Tower Co. (NYSE:AMT) by 13.0% during the third quarter, Holdings Channel reports. The institutional investor owned 51,957 shares of the real estate investment trust’s stock after selling 7,790 shares during the period. Chicago Partners Investment Group LLC’s holdings in American Tower were worth $11,756,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Phillips Wealth Planners LLC raised its stake in shares of American Tower by 6.5% during the 3rd quarter. Phillips Wealth Planners LLC now owns 1,857 shares of the real estate investment trust’s stock worth $423,000 after buying an additional 114 shares in the last quarter. Affinity Investment Advisors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $221,000. Shepherd Financial Partners LLC increased its position in shares of American Tower by 5.1% in the third quarter. Shepherd Financial Partners LLC now owns 2,190 shares of the real estate investment trust’s stock worth $509,000 after acquiring an additional 106 shares in the last quarter. Values Added Financial LLC purchased a new stake in shares of American Tower during the third quarter valued at approximately $309,000. Finally, Focus Financial Network Inc. boosted its stake in shares of American Tower by 50.1% during the 3rd quarter. Focus Financial Network Inc. now owns 3,172 shares of the real estate investment trust’s stock valued at $738,000 after buying an additional 1,059 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 1.1 %

AMT stock opened at $211.26 on Friday. The company has a market cap of $98.68 billion, a price-to-earnings ratio of 89.14, a price-to-earnings-growth ratio of 1.49 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 0.81. The company has a fifty day moving average price of $228.14 and a 200 day moving average price of $208.69. American Tower Co. has a 12 month low of $170.46 and a 12 month 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 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%. American Tower’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. Sell-side analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. Scotiabank cut 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 research report on Wednesday. TD Cowen lifted their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

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.