American Tower Co. (NYSE:AMT) Stake Raised by Timber Creek Capital Management LLC

Timber Creek Capital Management LLC increased its holdings in American Tower Co. (NYSE:AMT) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,764 shares of the real estate investment trust’s stock after acquiring an additional 123 shares during the period. Timber Creek Capital Management LLC’s holdings in American Tower were worth $4,364,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cultivar Capital Inc. purchased a new stake in American Tower in the 2nd quarter worth about $25,000. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of American Tower during the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of American Tower during the 2nd quarter worth 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. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

AMT opened at $209.00 on Friday. The firm has a market capitalization of $97.66 billion, a P/E ratio of 88.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The stock’s 50 day moving average price is $215.95 and its two-hundred day moving average price is $212.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion during 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 business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. On average, equities analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

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. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Mizuho increased their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Barclays lowered their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Four research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

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.