American Tower Co. (NYSE:AMT) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 15.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 210,667 shares of the real estate investment trust’s stock after selling 39,612 shares during the quarter. Los Angeles Capital Management LLC’s holdings in American Tower were worth $48,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in American Tower by 8.0% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,609 shares of the real estate investment trust’s stock worth $1,072,000 after buying an additional 340 shares during the period. Baker Avenue Asset Management LP boosted its stake in American Tower by 8.1% during the third quarter. Baker Avenue Asset Management LP now owns 1,300 shares of the real estate investment trust’s stock worth $302,000 after buying an additional 97 shares during the period. Axxcess Wealth Management LLC boosted its stake in American Tower by 15.4% during the third quarter. Axxcess Wealth Management LLC now owns 4,722 shares of the real estate investment trust’s stock worth $1,098,000 after buying an additional 631 shares during the period. Sigma Planning Corp boosted its stake in American Tower by 8.6% during the third quarter. Sigma Planning Corp now owns 6,849 shares of the real estate investment trust’s stock worth $1,593,000 after buying an additional 542 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its stake in American Tower by 2.1% during the third quarter. Mesirow Financial Investment Management Inc. now owns 27,072 shares of the real estate investment trust’s stock worth $6,296,000 after buying an additional 568 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AMT shares. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada raised their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Barclays raised their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four 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 stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Stock Up 2.0 %

AMT stock traded up $3.93 during midday trading on Friday, reaching $201.80. 3,981,626 shares of the company were exchanged, compared to its average volume of 2,433,520. 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 Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock’s 50-day simple moving average is $226.12 and its 200 day simple moving average is $210.08. The company has a market cap of $94.30 billion, a price-to-earnings ratio of 85.15, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business posted $2.58 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.21%. American Tower’s payout ratio is currently 273.42%.

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.