Baldwin Investment Management LLC Sells 130 Shares of American Tower Co. (NYSE:AMT)

Baldwin Investment Management LLC lowered its stake in American Tower Co. (NYSE:AMT) by 1.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,321 shares of the real estate investment trust’s stock after selling 130 shares during the period. Baldwin Investment Management LLC’s holdings in American Tower were worth $3,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Tidal Investments LLC grew its stake in shares of American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares during the period. Semmax Financial Advisors Inc. grew its position in shares of American Tower by 2,009.1% during the 1st quarter. Semmax Financial Advisors Inc. now owns 232 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 221 shares during the period. LBP AM SA raised its holdings in American Tower by 55.8% in the 1st quarter. LBP AM SA now owns 4,596 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 1,646 shares during the period. Plato Investment Management Ltd lifted its position in American Tower by 1,469.6% during the first quarter. Plato Investment Management Ltd now owns 10,030 shares of the real estate investment trust’s stock valued at $1,982,000 after purchasing an additional 9,391 shares in the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in American Tower during the first quarter valued at about $187,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.3 %

Shares of AMT opened at $208.09 on Wednesday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. 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 company’s fifty day simple moving average is $217.47 and its 200-day simple moving average is $212.16. The company has a market cap of $97.24 billion, a P/E ratio of 87.80, a P/E/G ratio of 1.38 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $2.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, 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. Stockholders 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 3.11%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped 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. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays cut 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, November 18th. Finally, Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average target price of $235.54.

American Tower 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.