Activest Wealth Management Has $36,000 Position in American Tower Co. (NYSE:AMT)

Activest Wealth Management raised its position in American Tower Co. (NYSE:AMT) by 431.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154 shares of the real estate investment trust’s stock after buying an additional 125 shares during the period. Activest Wealth Management’s holdings in American Tower were worth $36,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cultivar Capital Inc. bought a new stake in shares of American Tower during the second quarter worth $25,000. Fortitude Family Office LLC grew its holdings in shares of 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 purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower during the second quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in American Tower in the 2nd quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of American Tower during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of several research reports. Royal Bank of Canada boosted their price target 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. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Mizuho boosted their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Four 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. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $235.54.

American Tower Trading Down 0.6 %

NYSE AMT traded down $1.24 during trading on Thursday, hitting $199.64. The stock had a trading volume of 83,178 shares, compared to its average volume of 2,314,012. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a 50 day moving average price of $220.12 and a 200 day moving average price of $211.30. The company has a market capitalization of $93.29 billion, a PE ratio of 84.76, a PEG ratio of 1.34 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 (NYSE:AMT) last issued its quarterly 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 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%. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 EPS. As a group, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared 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. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.25%. American Tower’s dividend payout ratio is currently 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.