Dearborn Partners LLC Decreases Stock Holdings in American Tower Co. (NYSE:AMT)

Dearborn Partners LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 8.6% during the third quarter, Holdings Channel.com reports. The firm owned 1,637 shares of the real estate investment trust’s stock after selling 154 shares during the quarter. Dearborn Partners LLC’s holdings in American Tower were worth $381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc boosted its stake in American Tower by 4.4% in the third quarter. CIBC Asset Management Inc now owns 88,610 shares of the real estate investment trust’s stock valued at $20,607,000 after acquiring an additional 3,720 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in shares of American Tower by 68.9% during the 3rd quarter. Impax Asset Management Group plc now owns 33,925 shares of the real estate investment trust’s stock valued at $7,890,000 after purchasing an additional 13,834 shares during the last quarter. Nicola Wealth Management LTD. boosted its position in shares of American Tower by 20.3% in the 3rd quarter. Nicola Wealth Management LTD. now owns 8,281 shares of the real estate investment trust’s stock worth $1,926,000 after purchasing an additional 1,400 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in American Tower by 9.5% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,188 shares of the real estate investment trust’s stock worth $3,067,000 after buying an additional 1,142 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in American Tower by 3.6% during the 3rd quarter. Metis Global Partners LLC now owns 24,934 shares of the real estate investment trust’s stock valued at $5,799,000 after buying an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Barclays lifted their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Mizuho upped their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, TD Cowen upped their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Stock Performance

Shares of AMT stock opened at $196.45 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. 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 stock has a market cap of $91.80 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84. The business has a 50-day simple moving average of $223.30 and a 200-day simple moving average of $210.44.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 earnings per share. On average, equities analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.30%. American Tower’s dividend payout ratio is presently 273.42%.

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.