Curi RMB Capital LLC Lowers Position in American Tower Co. (NYSE:AMT)

Curi RMB Capital LLC lowered its position in American Tower Co. (NYSE:AMT) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,726 shares of the real estate investment trust’s stock after selling 3,046 shares during the period. Curi RMB Capital LLC’s holdings in American Tower were worth $21,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after buying an additional 965,938 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Clearbridge Investments LLC increased its holdings in shares of American Tower by 8.9% in the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after purchasing an additional 302,676 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after purchasing an additional 464,429 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in American Tower by 0.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock worth $315,868,000 after buying an additional 6,193 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of a number of research analyst reports. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Barclays increased their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. TD Cowen lifted their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Mizuho increased their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Stock Up 0.7 %

AMT opened at $195.16 on Thursday. The company has a market cap of $91.20 billion, a PE ratio of 82.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a 50 day moving average price of $224.08 and a 200 day moving average price of $210.55.

American Tower (NYSE:AMT) last posted 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). 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 for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue was down 10.5% compared to the same quarter last year. Sell-side analysts expect that American Tower Co. will post 10.08 earnings per share for the current 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 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

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.