MTM Investment Management LLC Sells 150 Shares of American Tower Co. (NYSE:AMT)

MTM Investment Management LLC reduced its holdings in American Tower Co. (NYSE:AMT) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,548 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. MTM Investment Management LLC’s holdings in American Tower were worth $1,241,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. NBT Bank N A NY boosted its stake in shares of 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 valued at $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional boosted its position in shares of 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 in the last quarter. O Brien Greene & Co. Inc raised 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 worth $481,000 after purchasing an additional 55 shares in the last quarter. Palumbo Wealth Management LLC grew its position in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC boosted its stake in American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after acquiring an additional 58 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 1.2 %

NYSE AMT opened at $201.17 on Wednesday. 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 stock has a market cap of $94.00 billion, a PE ratio of 84.88, a PEG ratio of 1.31 and a beta of 0.84. The company’s 50-day moving average price is $220.88 and its 200-day moving average price is $211.37. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the company posted $2.58 EPS. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 yield of 3.22%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Upgrades and Downgrades

AMT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised 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. TD Cowen upped their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Scotiabank dropped their target price on shares of 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. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.