Quad Cities Investment Group LLC Purchases 89 Shares of American Tower Co. (NYSE:AMT)

Quad Cities Investment Group LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 5.9% during the fourth quarter, HoldingsChannel reports. The firm owned 1,594 shares of the real estate investment trust’s stock after buying an additional 89 shares during the quarter. Quad Cities Investment Group LLC’s holdings in American Tower were worth $292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower during the second quarter worth about $27,000. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 3rd quarter valued at about $30,000. Hara Capital LLC acquired a new position in shares of American Tower in the 3rd quarter valued at approximately $31,000. Finally, Legacy Investment Solutions LLC bought a new stake in American Tower during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 2.1 %

Shares of American Tower stock opened at $177.02 on Tuesday. The stock has a market cap of $82.72 billion, a P/E ratio of 74.69, a P/E/G ratio of 1.31 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The business’s 50 day moving average is $194.28 and its 200-day moving average is $211.79.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) 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 firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the company posted $2.58 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

AMT has been the subject of several research analyst reports. 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 report on Wednesday, October 30th. Barclays lowered their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

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.