American Tower Co. (NYSE:AMT) Shares Sold by Platform Technology Partners

Platform Technology Partners cut its holdings in shares of American Tower Co. (NYSE:AMT) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,194 shares of the real estate investment trust’s stock after selling 164 shares during the quarter. Platform Technology Partners’ holdings in American Tower were worth $510,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AMT. Sheets Smith Wealth Management increased its position in shares of American Tower by 81.2% in the 1st quarter. Sheets Smith Wealth Management now owns 2,798 shares of the real estate investment trust’s stock worth $553,000 after purchasing an additional 1,254 shares during the last quarter. Cozad Asset Management Inc. increased its holdings in shares of American Tower by 7.5% in the 1st quarter. Cozad Asset Management Inc. now owns 1,472 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 103 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of American Tower by 16.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,012,762 shares of the real estate investment trust’s stock valued at $200,111,000 after acquiring an additional 144,875 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in American Tower by 4.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 511,608 shares of the real estate investment trust’s stock worth $104,542,000 after purchasing an additional 22,178 shares during the last quarter. Finally, Tradewinds LLC. bought a new stake in American Tower during the first quarter valued at $374,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Down 2.8 %

Shares of AMT stock opened at $196.08 on Tuesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $91.63 billion, a PE ratio of 82.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The business’s fifty day moving average is $225.56 and its 200-day moving average is $210.50. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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%. American Tower’s revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 earnings per share. Equities analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AMT shares. Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Barclays raised their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen upped their price target 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. Four investment 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

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.