Values Added Financial LLC Invests $309,000 in American Tower Co. (NYSE:AMT)

Values Added Financial LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the third quarter, HoldingsChannel reports. The fund acquired 1,329 shares of the real estate investment trust’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Ameriprise Financial Inc. raised its stake in American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after buying an additional 1,885,421 shares during the last quarter. Pathway Financial Advisers LLC increased its position in American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after acquiring an additional 993,061 shares during the last quarter. Vanguard Group Inc. lifted its holdings in American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after acquiring an additional 965,938 shares during the period. M&G Plc purchased a new position in American Tower in the first quarter worth about $164,300,000. Finally, International Assets Investment Management LLC increased its position in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AMT. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Scotiabank lowered their target price on 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 upped their price target on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Price Performance

AMT traded up $0.31 during trading on Friday, reaching $213.85. 474,910 shares of the company traded hands, compared to its average volume of 2,267,221. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a fifty day simple moving average of $228.45 and a 200 day simple moving average of $208.46. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.81 and a current ratio of 0.69. The company has a market cap of $99.89 billion, a P/E ratio of 90.10, a PEG ratio of 1.04 and a beta of 0.83.

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 the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.58 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio 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.