Kingsview Wealth Management LLC Has $33.41 Million Stake in American Tower Co. (NYSE:AMT)

Kingsview Wealth Management LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 5.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 143,658 shares of the real estate investment trust’s stock after acquiring an additional 6,974 shares during the period. Kingsview Wealth Management LLC’s holdings in American Tower were worth $33,409,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AMT. Fortitude Family Office LLC boosted its stake in 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 valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new stake in shares of American Tower in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 3rd quarter worth approximately $30,000. Cultivar Capital Inc. bought a new stake in shares of American Tower in the 2nd quarter worth approximately $25,000. Finally, Hara Capital LLC bought a new stake in shares of American Tower in the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.7 %

NYSE AMT opened at $204.32 on Friday. The stock has a fifty day moving average of $218.75 and a 200-day moving average of $211.42. The stock has a market capitalization of $95.48 billion, a P/E ratio of 86.21, a price-to-earnings-growth ratio of 1.35 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 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 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business posted $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.17%. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on 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 raised their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower 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.