Pinnacle Bancorp Inc. Purchases 76 Shares of American Tower Co. (NYSE:AMT)

Pinnacle Bancorp Inc. boosted its position in American Tower Co. (NYSE:AMT) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 934 shares of the real estate investment trust’s stock after buying an additional 76 shares during the quarter. Pinnacle Bancorp Inc.’s holdings in American Tower were worth $171,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AMT. Fortitude Family Office LLC lifted 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 purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new stake in American Tower during the 2nd quarter worth about $27,000. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the 3rd quarter worth about $30,000. Hara Capital LLC bought a new position in shares of American Tower in the 3rd quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at about $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $190.26 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market capitalization of $88.91 billion, a price-to-earnings ratio of 80.28, a PEG ratio of 1.16 and a beta of 0.84. The company has a 50-day simple moving average of $193.24 and a 200 day simple moving average of $211.46. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, sell-side analysts predict that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMT shares. 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 research report on Monday, September 23rd. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Scotiabank cut their price target on shares of 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. Finally, Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower 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.