OneDigital Investment Advisors LLC Trims Stake in American Tower Co. (NYSE:AMT)

OneDigital Investment Advisors LLC cut its stake in shares of American Tower Co. (NYSE:AMT) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,428 shares of the real estate investment trust’s stock after selling 219 shares during the period. OneDigital Investment Advisors LLC’s holdings in American Tower were worth $2,193,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Foundation Advisors raised its stake in American Tower by 34.2% during the 1st quarter. First Foundation Advisors now owns 1,080 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 275 shares during the period. Intech Investment Management LLC boosted its holdings in American Tower by 17.7% in the 1st quarter. Intech Investment Management LLC now owns 5,520 shares of the real estate investment trust’s stock worth $1,091,000 after buying an additional 831 shares during the period. Edgestream Partners L.P. increased its stake in American Tower by 110.4% in the 1st quarter. Edgestream Partners L.P. now owns 2,321 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 1,218 shares in the last quarter. Catalytic Wealth RIA LLC lifted its position in shares of American Tower by 30.2% in the first quarter. Catalytic Wealth RIA LLC now owns 2,339 shares of the real estate investment trust’s stock valued at $462,000 after acquiring an additional 542 shares in the last quarter. Finally, Brogan Financial Inc. bought a new position in shares of American Tower in the first quarter worth about $220,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.9 %

Shares of AMT opened at $196.45 on Friday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. 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 company’s fifty day simple moving average is $222.51 and its 200-day simple moving average is $210.86. The company has a market cap of $91.80 billion, a P/E ratio of 82.89, a P/E/G ratio of 1.30 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its earnings results 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 business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.30%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Mizuho raised their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Barclays boosted their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $235.85.

American Tower Company 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.