Enterprise Bank & Trust Co Increases Holdings in American Tower Co. (NYSE:AMT)

Enterprise Bank & Trust Co increased its holdings in shares of American Tower Co. (NYSE:AMT) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,424 shares of the real estate investment trust’s stock after purchasing an additional 99 shares during the quarter. Enterprise Bank & Trust Co’s holdings in American Tower were worth $1,912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in shares of 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 acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of American Tower during the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower during the third quarter valued at about $30,000. Hara Capital LLC bought a new stake in shares of American Tower in the third quarter worth about $31,000. Finally, Legacy Investment Solutions LLC bought a new position in American Tower during the third quarter valued at approximately $34,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 1.6 %

AMT traded up $2.72 on Monday, reaching $176.18. 1,387,745 shares of the company traded hands, compared to its average volume of 2,320,004. The company has a market cap of $82.33 billion, a P/E ratio of 74.34, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The firm has a fifty day simple moving average of $194.98 and a two-hundred day simple moving average of $211.92.

American Tower (NYSE:AMT) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 EPS. As a group, equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.68%. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. JPMorgan Chase & Co. upped their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Scotiabank lowered 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 report on Wednesday, October 30th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

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.