Savvy Advisors Inc. Has $1.04 Million Holdings in American Tower Co. (NYSE:AMT)

Savvy Advisors Inc. lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 268.2% during the third quarter, HoldingsChannel reports. The firm owned 4,463 shares of the real estate investment trust’s stock after acquiring an additional 3,251 shares during the quarter. Savvy Advisors Inc.’s holdings in American Tower were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of American Tower by 1.6% during the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after buying an additional 965,938 shares during the period. Ameriprise Financial Inc. lifted its holdings in American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares during the last quarter. Clearbridge Investments LLC boosted its position in American Tower by 8.9% during the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock worth $720,206,000 after purchasing an additional 302,676 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after purchasing an additional 464,429 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of American Tower by 0.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock valued at $315,868,000 after purchasing an additional 6,193 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised 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. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Scotiabank decreased their target price on shares of 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. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Price Performance

Shares of NYSE:AMT opened at $195.30 on Tuesday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. 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 company has a market cap of $91.26 billion, a price-to-earnings ratio of 82.73, a PEG ratio of 1.34 and a beta of 0.84. The firm has a 50 day simple moving average of $225.56 and a 200 day simple moving average of $210.50.

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 the consensus estimate of $2.45 by ($1.56). The firm 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 company’s revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. Research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.32%. American Tower’s dividend payout ratio is presently 273.42%.

About American Tower

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.