Aureus Asset Management LLC Cuts Stock Position in American Tower Co. (NYSE:AMT)

Aureus Asset Management LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,181 shares of the real estate investment trust’s stock after selling 4,376 shares during the quarter. American Tower comprises approximately 2.5% of Aureus Asset Management LLC’s portfolio, making the stock its 14th biggest position. Aureus Asset Management LLC’s holdings in American Tower were worth $37,484,000 at the end of the most recent reporting period.

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

American Tower Stock Down 0.1 %

AMT opened at $209.00 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $97.66 billion, a P/E ratio of 88.19, a PEG ratio of 1.39 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business’s fifty day simple moving average is $215.95 and its 200 day simple moving average is $212.61.

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

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

Analysts Set New Price Targets

Several research analysts have issued reports on AMT shares. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.54.

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.