Prospera Private Wealth LLC Invests $115,000 in American Tower Co. (NYSE:AMT)

Prospera Private Wealth LLC bought a new stake in American Tower Co. (NYSE:AMT) in the third quarter, HoldingsChannel reports. The institutional investor bought 496 shares of the real estate investment trust’s stock, valued at approximately $115,000.

A number of other large investors have also made changes to their positions in the stock. Cultivar Capital Inc. acquired a new stake in American Tower in the 2nd quarter valued at about $25,000. Fortitude Family Office LLC boosted its position in shares of 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 during the last quarter. Fairscale Capital LLC purchased a new stake in shares of American Tower during the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower during the second quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.1 %

NYSE AMT opened at $203.18 on Friday. The stock’s 50 day moving average is $219.44 and its two-hundred day moving average is $211.24. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $94.94 billion, a price-to-earnings ratio of 85.73, a PEG ratio of 1.34 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.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the company posted $2.58 earnings per share. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.19%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

Analysts Set New Price Targets

AMT has been the subject of several analyst reports. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. 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 research report on Wednesday, July 31st. Scotiabank dropped their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.