SageView Advisory Group LLC Sells 1,170 Shares of American Tower Co. (NYSE:AMT)

SageView Advisory Group LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 10.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,088 shares of the real estate investment trust’s stock after selling 1,170 shares during the period. SageView Advisory Group LLC’s holdings in American Tower were worth $2,346,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Balentine LLC acquired a new position in American Tower during the 3rd quarter valued at about $586,000. Point72 Hong Kong Ltd acquired a new position in American Tower during the 3rd quarter valued at about $1,156,000. Czech National Bank boosted its stake in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in American Tower by 46.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after purchasing an additional 8,195 shares during the last quarter. Finally, Savvy Advisors Inc. boosted its stake in American Tower by 268.2% during the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock valued at $1,038,000 after purchasing an additional 3,251 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 0.1 %

AMT opened at $207.51 on Thursday. The stock has a market cap of $96.97 billion, a PE ratio of 87.55, a P/E/G ratio of 1.38 and a beta of 0.83. 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 52 week low of $170.46 and a 52 week high of $243.56. The business’s fifty day simple moving average is $214.24 and its 200 day simple moving average is $212.75.

American Tower (NYSE:AMT) last posted its quarterly 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 in the previous year, the company earned $2.58 earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.12%. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Scotiabank cut their target price 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. Barclays cut their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.