American Tower Co. (NYSE:AMT) Shares Sold by Davis R M Inc.

Davis R M Inc. decreased its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 298,156 shares of the real estate investment trust’s stock after selling 4,150 shares during the period. American Tower comprises approximately 1.3% of Davis R M Inc.’s holdings, making the stock its 23rd largest position. Davis R M Inc.’s holdings in American Tower were worth $69,339,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMT. NBT Bank N A NY raised its position in shares of American Tower by 3.3% during the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 54 shares during the last quarter. CX Institutional increased its stake in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares during the period. O Brien Greene & Co. Inc lifted its position in shares of American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 55 shares during the period. Palumbo Wealth Management LLC grew its holdings in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC increased its position in shares of American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays dropped their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, BMO Capital Markets reduced 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 investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Performance

Shares of NYSE:AMT opened at $204.31 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market capitalization of $95.47 billion, a P/E ratio of 86.21, a P/E/G ratio of 1.36 and a beta of 0.84. The business has a 50-day moving average price of $218.75 and a two-hundred day moving average price of $211.84.

American Tower (NYSE:AMT) last announced 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts predict 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. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date 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 currently 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.