American Tower Co. (NYSE:AMT) Shares Purchased by Marion Wealth Management

Marion Wealth Management boosted its holdings in American Tower Co. (NYSE:AMT) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,488 shares of the real estate investment trust’s stock after buying an additional 156 shares during the period. Marion Wealth Management’s holdings in American Tower were worth $1,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its holdings 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 worth $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in American Tower during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC acquired a new position in shares of American Tower during the 3rd quarter valued at $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT traded up $3.56 during trading hours on Monday, hitting $177.02. The company had a trading volume of 2,409,765 shares, compared to its average volume of 2,473,640. 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 firm has a market cap of $82.72 billion, a P/E ratio of 74.69, a price-to-earnings-growth 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. The business has a fifty day simple moving average of $194.98 and a 200-day simple moving average of $211.92.

American Tower (NYSE:AMT) last released its quarterly earnings data 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 return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $2.58 EPS. The firm’s revenue was down 10.5% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays reduced their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. upped their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $230.67.

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.