One Plus One Wealth Management LLC Raises Holdings in American Tower Co. (NYSE:AMT)

One Plus One Wealth Management LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 8.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,608 shares of the real estate investment trust’s stock after acquiring an additional 282 shares during the period. One Plus One Wealth Management LLC’s holdings in American Tower were worth $839,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cultivar Capital Inc. acquired a new position in shares of American Tower during the 2nd quarter worth $25,000. Fortitude Family Office LLC boosted its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in American Tower during the second quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter valued at about $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays raised their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Performance

American Tower stock opened at $213.86 on Wednesday. The company has a market cap of $99.89 billion, a price-to-earnings ratio of 90.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s 50-day moving average is $227.63 and its 200-day moving average is $209.79.

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 (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 business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current 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 given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.