Ashton Thomas Private Wealth LLC Sells 180 Shares of American Tower Co. (NYSE:AMT)

Ashton Thomas Private Wealth LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,325 shares of the real estate investment trust’s stock after selling 180 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in American Tower were worth $5,657,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Patron Partners LLC raised its position in shares of American Tower by 4.0% in the third quarter. Patron Partners LLC now owns 3,372 shares of the real estate investment trust’s stock valued at $784,000 after purchasing an additional 131 shares during the period. Entropy Technologies LP bought a new stake in American Tower during the 3rd quarter worth approximately $4,846,000. Nations Financial Group Inc. IA ADV increased its holdings in American Tower by 5.7% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 5,794 shares of the real estate investment trust’s stock worth $1,347,000 after acquiring an additional 315 shares during the period. Cottonwood Capital Advisors LLC bought a new stake in American Tower during the 3rd quarter worth approximately $214,000. Finally, Jag Capital Management LLC grew its stake in American Tower by 2.4% in the 3rd quarter. Jag Capital Management LLC now owns 10,449 shares of the real estate investment trust’s stock worth $2,430,000 after buying an additional 243 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on AMT. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays boosted their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Trading Down 0.4 %

NYSE:AMT opened at $195.27 on Tuesday. The company has a fifty day moving average of $225.56 and a 200 day moving average of $210.50. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $91.25 billion, a P/E ratio of 82.73, a P/E/G ratio of 1.34 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. On average, research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.32%. American Tower’s payout ratio is 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.