American Tower Co. (NYSE:AMT) Shares Sold by Mizuho Securities USA LLC

Mizuho Securities USA LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 15.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,288 shares of the real estate investment trust’s stock after selling 5,718 shares during the quarter. Mizuho Securities USA LLC’s holdings in American Tower were worth $7,044,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMT. Ameriprise Financial Inc. raised its stake in shares of 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 worth $1,243,333,000 after buying an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC raised its stake in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after buying an additional 993,061 shares during the period. International Assets Investment Management LLC raised its stake in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after buying an additional 775,379 shares during the period. Swedbank AB acquired a new position in shares of American Tower during the 1st quarter worth approximately $123,861,000. Finally, Massachusetts Financial Services Co. MA raised its stake in American Tower by 16.3% in the 2nd 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. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on AMT shares. Royal Bank of Canada increased their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Scotiabank reduced their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Mizuho increased their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Stock Performance

NYSE AMT opened at $200.88 on Thursday. The stock has a market cap of $93.87 billion, a PE ratio of 84.76, a P/E/G ratio of 1.34 and a beta of 0.84. 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 twelve month low of $170.46 and a twelve month high of $243.56. The stock has a fifty day simple moving average of $220.12 and a 200-day simple moving average of $211.30.

American Tower (NYSE:AMT) last released its quarterly earnings results 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). The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 earnings per share. Equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) 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.