Brooklyn Investment Group Reduces Stake in American Tower Co. (NYSE:AMT)

Brooklyn Investment Group lessened its stake in shares of American Tower Co. (NYSE:AMT) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,464 shares of the real estate investment trust’s stock after selling 177 shares during the period. Brooklyn Investment Group’s holdings in American Tower were worth $806,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank decreased their price target on 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. 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 note on Monday, September 23rd. 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 note on Thursday, August 15th. Barclays decreased their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Trading Up 1.6 %

NYSE:AMT opened at $207.55 on Tuesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market cap of $96.99 billion, a PE ratio of 87.59, a price-to-earnings-growth ratio of 1.36 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. The stock has a fifty day moving average price of $218.10 and a 200 day moving average price of $211.99.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 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.