American Tower Co. (NYSE:AMT) Stake Increased by Raymond James Trust N.A.

Raymond James Trust N.A. increased its holdings in shares of American Tower Co. (NYSE:AMT) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,107 shares of the real estate investment trust’s stock after buying an additional 1,315 shares during the quarter. Raymond James Trust N.A.’s holdings in American Tower were worth $3,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of AMT. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at about $25,000. Fortitude Family Office LLC lifted its position in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower during the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower during the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the third quarter worth $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 0.7 %

Shares of NYSE:AMT opened at $204.32 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $95.48 billion, a P/E ratio of 86.21, a P/E/G ratio of 1.35 and a beta of 0.84. The stock’s 50-day moving average is $218.75 and its 200-day moving average is $211.42.

American Tower (NYSE:AMT) last released its 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 net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $2.58 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.17%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays lowered their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $235.54.

American Tower 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.