Global Retirement Partners LLC lowered its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,698 shares of the real estate investment trust’s stock after selling 420 shares during the quarter. Global Retirement Partners LLC’s holdings in American Tower were worth $1,728,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Atticus Wealth Management LLC increased its position in American Tower by 6.3% during the 3rd quarter. Atticus Wealth Management LLC now owns 728 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 43 shares during the period. Tiemann Investment Advisors LLC boosted its stake in American Tower by 2.3% during the 3rd quarter. Tiemann Investment Advisors LLC now owns 1,950 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 44 shares during the period. Glassman Wealth Services boosted its stake in American Tower by 4.9% during the 3rd quarter. Glassman Wealth Services now owns 1,020 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 48 shares during the period. West Bancorporation Inc. boosted its stake in American Tower by 4.1% during the 3rd quarter. West Bancorporation Inc. now owns 1,274 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 50 shares during the period. Finally, TRH Financial LLC boosted its stake in American Tower by 2.7% during the 3rd quarter. TRH Financial LLC now owns 1,964 shares of the real estate investment trust’s stock valued at $475,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 89.97% of the company’s stock.
A number of brokerages have commented on AMT. Wells Fargo & Company reduced their price objective on American Tower from $290.00 to $285.00 and set an “overweight” rating for the company in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft downgraded American Tower from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $295.00 to $245.00 in a research report on Friday, December 11th. BidaskClub downgraded American Tower from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 10th. Morgan Stanley reduced their price objective on American Tower from $250.00 to $244.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 20th. Finally, Credit Suisse Group raised their price objective on American Tower from $300.00 to $301.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $272.50.
Shares of American Tower stock traded up $1.57 during midday trading on Wednesday, hitting $216.48. 78,956 shares of the company were exchanged, compared to its average volume of 2,641,963. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $96.16 billion, a P/E ratio of 50.81, a PEG ratio of 1.55 and a beta of 0.25. American Tower Co. has a 52 week low of $174.32 and a 52 week high of $272.20. The firm has a 50 day simple moving average of $223.05 and a 200-day simple moving average of $241.91.
American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.06). American Tower had a net margin of 24.08% and a return on equity of 42.42%. The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts expect that American Tower Co. will post 8.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 2nd. Investors of record on Monday, December 28th will be issued a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a yield of 2.24%. This is a boost from American Tower’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Thursday, December 24th. American Tower’s dividend payout ratio (DPR) is currently 62.61%.
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 approximately 181,000 communications sites.
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