American Tower Co. (NYSE:AMT) Stake Boosted by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 5.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,395 shares of the real estate investment trust’s stock after buying an additional 1,433 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in American Tower were worth $6,836,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Cultivar Capital Inc. acquired a new position in American Tower in the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% in the third 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 in the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower during the second quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the second quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in American Tower in the 3rd quarter worth about $30,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays lowered their price target 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. Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Stock Performance

NYSE:AMT opened at $207.79 on Wednesday. The firm has a market capitalization of $97.10 billion, a PE ratio of 87.68, a PEG ratio of 1.38 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. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm’s fifty day simple moving average is $214.80 and its 200 day simple moving average is $212.79.

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 analysts’ consensus estimates 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 the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed 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 3.12%. American Tower’s payout ratio is 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.