Ingalls & Snyder LLC Boosts Holdings in American Tower Co. (NYSE:AMT)

Ingalls & Snyder LLC grew its position in American Tower Co. (NYSE:AMT) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,194 shares of the real estate investment trust’s stock after acquiring an additional 156 shares during the quarter. Ingalls & Snyder LLC’s holdings in American Tower were worth $2,603,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMT. Cultivar Capital Inc. bought a new stake in American Tower in the second quarter worth about $25,000. Fortitude Family Office LLC lifted its stake in shares of American Tower by 269.0% during the 3rd 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 purchased a new position in American Tower during the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC bought a new position in American Tower in the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in American Tower in the third quarter worth $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock traded up $0.51 during mid-day trading on Tuesday, hitting $207.84. The company had a trading volume of 247,082 shares, compared to its average volume of 2,309,273. The company has a market capitalization of $97.12 billion, a price-to-earnings ratio of 87.48, a P/E/G ratio of 1.39 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s fifty day moving average is $215.95 and its 200-day moving average is $212.61. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 earnings per share. Equities research analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

Analysts Set New Price Targets

AMT has been the topic of a number of research analyst reports. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Barclays dropped their target price 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. Four equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.