American Tower Co. (NYSE:AMT) Shares Purchased by BluePath Capital Management LLC

BluePath Capital Management LLC boosted its holdings in American Tower Co. (NYSE:AMT) by 28.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,003 shares of the real estate investment trust’s stock after buying an additional 1,109 shares during the period. BluePath Capital Management LLC’s holdings in American Tower were worth $885,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC grew its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC acquired a new stake in shares of American Tower during the 2nd quarter worth $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 3rd quarter worth $30,000. Hara Capital LLC acquired a new position in American Tower in the third quarter valued at $31,000. Finally, Legacy Investment Solutions LLC purchased a new stake in American Tower during the third quarter valued at about $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $180.31 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day moving average of $193.58 and a 200-day moving average of $211.68. The stock has a market cap of $84.26 billion, a P/E ratio of 76.08, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last released its earnings results 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 company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. On average, analysts expect that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AMT. Barclays dropped their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets decreased their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $230.67.

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.