American Tower Co. (NYSE:AMT) Shares Acquired by Northcape Wealth Management LLC

Northcape Wealth Management LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 2.3% in the third quarter, Holdings Channel reports. The firm owned 10,620 shares of the real estate investment trust’s stock after buying an additional 235 shares during the period. Northcape Wealth Management LLC’s holdings in American Tower were worth $2,470,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC raised its holdings in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of American Tower during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter valued at $30,000. Cultivar Capital Inc. purchased a new position in American Tower in the 2nd quarter valued at $25,000. Finally, Hara Capital LLC acquired a new stake in American Tower during the 3rd quarter worth $31,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT opened at $196.45 on Friday. The firm has a 50-day simple moving average of $222.51 and a two-hundred day simple moving average of $210.59. The stock has a market cap of $91.80 billion, a PE ratio of 82.89, a P/E/G ratio of 1.30 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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 company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the business posted $2.58 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently weighed in on AMT. Deutsche Bank Aktiengesellschaft raised their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Scotiabank lowered their price objective 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. Finally, Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Four equities research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.