Caprock Group LLC Grows Holdings in American Tower Co. (NYSE:AMT)

Caprock Group LLC raised its position in American Tower Co. (NYSE:AMT) by 46.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,051 shares of the real estate investment trust’s stock after buying an additional 3,524 shares during the period. Caprock Group LLC’s holdings in American Tower were worth $2,570,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Cultivar Capital Inc. purchased a new position in American Tower in the second quarter valued at about $25,000. Fortitude Family Office LLC boosted its stake in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower during the second quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the second quarter valued at $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in American Tower during the 3rd quarter worth $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent analyst reports. BMO Capital Markets cut their target price 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. Wells Fargo & Company cut 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 research note on Thursday, October 10th. Barclays decreased their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday. Scotiabank dropped their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

American Tower Trading Up 1.2 %

Shares of NYSE:AMT opened at $201.17 on Wednesday. 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 company’s 50-day moving average price is $220.88 and its 200 day moving average price is $211.37. The company has a market cap of $94.00 billion, a PE ratio of 84.88, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the firm posted $2.58 EPS. The business’s quarterly revenue was down 10.5% on a year-over-year basis. Sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 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.