CreativeOne Wealth LLC Buys 633 Shares of American Tower Co. (NYSE:AMT)

CreativeOne Wealth LLC boosted its stake in American Tower Co. (NYSE:AMT) by 33.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,547 shares of the real estate investment trust’s stock after acquiring an additional 633 shares during the quarter. CreativeOne Wealth LLC’s holdings in American Tower were worth $592,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMT. FMR LLC grew its holdings in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC increased its holdings in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after purchasing an additional 993,061 shares during the period. International Assets Investment Management LLC raised its position in American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after buying an additional 464,429 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $209.00 on Friday. The business has a 50-day simple moving average of $215.95 and a 200 day simple moving average of $212.46. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market capitalization of $97.66 billion, a price-to-earnings ratio of 88.19, a PEG ratio of 1.39 and a beta of 0.84.

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 analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Mizuho boosted their target price 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. Finally, Wells Fargo & Company cut shares of 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 report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.