American Tower Co. (NYSE:AMT) is American Assets Capital Advisers LLC’s 3rd Largest Position

American Assets Capital Advisers LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 5.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 104,000 shares of the real estate investment trust’s stock after selling 5,823 shares during the period. American Tower makes up approximately 7.4% of American Assets Capital Advisers LLC’s investment portfolio, making the stock its 3rd largest position. American Assets Capital Advisers LLC’s holdings in American Tower were worth $24,186,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Balentine LLC acquired a new position in shares of American Tower in the third quarter worth $586,000. Czech National Bank increased its position in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in shares of American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after purchasing an additional 4,660 shares in the last quarter. Tidal Investments LLC lifted its holdings 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 buying an additional 4,430 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after buying an additional 9,275 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

Shares of AMT traded down $2.72 during mid-day trading on Tuesday, hitting $193.36. The company’s stock had a trading volume of 970,890 shares, compared to its average volume of 2,312,529. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The stock’s 50-day moving average is $225.56 and its two-hundred day moving average is $210.50. The firm has a market capitalization of $90.36 billion, a PE ratio of 82.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Scotiabank reduced their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $235.85.

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.