American Tower Co. (NYSE:AMT) Shares Bought by Continuum Advisory LLC

Continuum Advisory LLC lifted its holdings in American Tower Co. (NYSE:AMT) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,966 shares of the real estate investment trust’s stock after buying an additional 380 shares during the period. Continuum Advisory LLC’s holdings in American Tower were worth $1,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Advisor Solutions LLC lifted its position in American Tower by 1.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 15,154 shares of the real estate investment trust’s stock valued at $2,946,000 after buying an additional 264 shares during the last quarter. Wedmont Private Capital boosted its position in American Tower by 19.5% in the 2nd quarter. Wedmont Private Capital now owns 2,809 shares of the real estate investment trust’s stock valued at $592,000 after buying an additional 459 shares during the period. Roman Butler Fullerton & Co. acquired a new position in shares of American Tower in the second quarter worth $227,000. Gemmer Asset Management LLC purchased a new stake in shares of American Tower during the second quarter worth $361,000. Finally, Diversified Trust Co boosted its holdings in American Tower by 101.1% in the second quarter. Diversified Trust Co now owns 2,848 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 1,432 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of several analyst reports. Mizuho boosted their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Scotiabank dropped their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted 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 increased 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Price Performance

Shares of NYSE AMT opened at $207.10 on Monday. 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 $96.78 billion, a PE ratio of 87.38, a P/E/G ratio of 1.38 and a beta of 0.83. The stock has a fifty day moving average price of $213.32 and a 200 day moving average price of $213.12. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

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 (EPS) 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 firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 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.