American Tower Co. (NYSE:AMT) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its position in American Tower Co. (NYSE:AMT) by 10.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,677 shares of the real estate investment trust’s stock after selling 2,472 shares during the period. D.A. Davidson & CO.’s holdings in American Tower were worth $4,809,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. NBT Bank N A NY raised its position in American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after buying an additional 54 shares during the last quarter. CX Institutional lifted its position 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 purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc boosted its holdings in American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the last quarter. Palumbo Wealth Management LLC grew its position in 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 during the period. Finally, Tyche Wealth Partners LLC raised its stake in shares of American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 58 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of NYSE AMT opened at $209.31 on Thursday. The firm has a 50-day simple moving average of $216.94 and a 200-day simple moving average of $212.14. 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 stock has a market capitalization of $97.81 billion, a price-to-earnings ratio of 88.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last issued its 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 analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 earnings per share. On average, equities analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

Analysts Set New Price Targets

AMT has been the subject of several recent research reports. Scotiabank reduced 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. Barclays lowered their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Mizuho lifted their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. TD Cowen increased their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Four 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.