Cypress Capital Group Decreases Stake in American Tower Co. (NYSE:AMT)

Cypress Capital Group cut its stake in American Tower Co. (NYSE:AMT) by 6.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,457 shares of the real estate investment trust’s stock after selling 548 shares during the quarter. Cypress Capital Group’s holdings in American Tower were worth $1,967,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMT. Balentine LLC purchased a new position in shares of American Tower in the third quarter worth about $586,000. Czech National Bank grew its holdings in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares in the last quarter. Tidal Investments LLC boosted its position 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 worth $4,029,000 after acquiring an additional 4,430 shares in the last quarter. Cetera Advisors LLC boosted its holdings 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. Finally, Savvy Advisors Inc. grew its stake in American Tower by 268.2% during the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after buying an additional 3,251 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 0.1 %

Shares of NYSE AMT opened at $200.88 on Thursday. The firm has a market capitalization of $93.87 billion, a PE ratio of 84.76, a PEG ratio of 1.34 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50-day moving average price of $220.12 and a two-hundred day moving average price of $211.30.

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 the consensus estimate of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 EPS. As a group, analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.23%. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. 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 note on Wednesday, July 31st. Mizuho lifted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada increased their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Finally, BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $235.54.

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.