American Tower Co. (NYSE:AMT) Shares Sold by ClearAlpha Technologies LP

ClearAlpha Technologies LP lowered its position in shares of American Tower Co. (NYSE:AMT) by 24.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,372 shares of the real estate investment trust’s stock after selling 450 shares during the quarter. ClearAlpha Technologies LP’s holdings in American Tower were worth $319,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cultivar Capital Inc. bought a new position in American Tower during the second quarter worth $25,000. Fortitude Family Office LLC lifted its position in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower in the second quarter valued at approximately $29,000. Finally, Northwest Investment Counselors LLC bought a new position in American Tower during the 3rd quarter worth $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $209.00 on Monday. 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 $97.66 billion, a PE ratio of 88.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The stock has a 50-day moving average price of $215.95 and a two-hundred day moving average price of $212.61. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly 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). 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 business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the company posted $2.58 earnings per share. Equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMT shares. Barclays cut their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lifted 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. Scotiabank reduced their price target 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. Mizuho boosted their price objective 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, Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus 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.