Napa Wealth Management Purchases 182 Shares of American Tower Co. (NYSE:AMT)

Napa Wealth Management boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 13.7% in the 3rd quarter, Holdings Channel reports. The firm owned 1,507 shares of the real estate investment trust’s stock after buying an additional 182 shares during the period. Napa Wealth Management’s holdings in American Tower were worth $350,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AMT. Ameriprise Financial Inc. lifted its position in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after buying an additional 1,885,421 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of American Tower by 8.9% in the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after purchasing an additional 302,676 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 valued at $643,571,000 after purchasing an additional 464,429 shares during the last quarter. Canada Pension Plan Investment Board increased its position in American Tower by 4.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,536,255 shares of the real estate investment trust’s stock worth $298,617,000 after purchasing an additional 69,300 shares in the last quarter. Finally, ClearBridge Investments Ltd lifted its stake in American Tower by 6.2% in the 2nd quarter. ClearBridge Investments Ltd now owns 1,442,759 shares of the real estate investment trust’s stock valued at $280,443,000 after purchasing an additional 84,180 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on AMT shares. TD Cowen boosted 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Mizuho upped their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, Barclays lifted their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Price Performance

Shares of AMT opened at $195.75 on Monday. The firm has a market cap of $91.47 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 1.31 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. The business’s 50 day moving average price is $222.51 and its two-hundred day moving average price is $211.10. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.58 EPS. On average, equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.31%. American Tower’s dividend payout ratio is presently 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.