Elevated Capital Advisors LLC Buys 263 Shares of American Tower Co. (NYSE:AMT)

Elevated Capital Advisors LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 7.0% during the 4th quarter, HoldingsChannel reports. The firm owned 4,021 shares of the real estate investment trust’s stock after buying an additional 263 shares during the period. Elevated Capital Advisors LLC’s holdings in American Tower were worth $738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. Balentine LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $586,000. Nordea Investment Management AB grew its holdings in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of American Tower during the third quarter worth $1,156,000. Czech National Bank lifted its holdings in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in shares of American Tower by 46.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after purchasing an additional 8,195 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMT. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Barclays cut their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Price Performance

NYSE AMT traded up $3.56 during mid-day trading on Monday, hitting $177.02. The stock had a trading volume of 2,409,180 shares, compared to its average volume of 2,473,299. The firm’s 50 day moving average is $194.98 and its 200 day moving average is $211.92. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $82.72 billion, a price-to-earnings ratio of 74.69, a PEG ratio of 1.31 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results 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). The business had revenue of $2.52 billion during 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%. American Tower’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. Equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.66%. American Tower’s dividend payout ratio (DPR) 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.