American Tower Co. (NYSE:AMT) Shares Sold by Boston Family Office LLC

Boston Family Office LLC cut its position in American Tower Co. (NYSE:AMT) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 129,482 shares of the real estate investment trust’s stock after selling 143 shares during the period. American Tower makes up 2.0% of Boston Family Office LLC’s holdings, making the stock its 11th largest position. Boston Family Office LLC’s holdings in American Tower were worth $30,112,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AMT. Lazard Asset Management LLC boosted its stake in shares of American Tower by 1,185.8% in the first quarter. Lazard Asset Management LLC now owns 64,533 shares of the real estate investment trust’s stock worth $12,750,000 after buying an additional 59,514 shares during the last quarter. BOKF NA boosted its stake in shares of American Tower by 2.7% in the first quarter. BOKF NA now owns 6,248 shares of the real estate investment trust’s stock worth $1,206,000 after buying an additional 164 shares during the last quarter. Waverly Advisors LLC boosted its stake in shares of American Tower by 45.4% in the first quarter. Waverly Advisors LLC now owns 5,603 shares of the real estate investment trust’s stock worth $1,107,000 after buying an additional 1,750 shares during the last quarter. Vancity Investment Management Ltd boosted its stake in shares of American Tower by 17.8% in the first quarter. Vancity Investment Management Ltd now owns 99,270 shares of the real estate investment trust’s stock worth $19,614,000 after buying an additional 14,984 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in American Tower by 26.5% during the first quarter. Ancora Advisors LLC now owns 79,863 shares of the real estate investment trust’s stock worth $15,780,000 after purchasing an additional 16,711 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE:AMT opened at $204.31 on Monday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $95.47 billion, a PE ratio of 86.21, a P/E/G ratio of 1.36 and a beta of 0.84. The stock has a 50 day moving average price of $218.75 and a 200 day moving average price of $211.84.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 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 company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the business posted $2.58 EPS. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.17%. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. TD Cowen increased 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. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets lowered 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. Finally, Barclays lowered their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $235.54.

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.