First Heartland Consultants Inc. Has $394,000 Holdings in American Tower Co. (NYSE:AMT)

First Heartland Consultants Inc. lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 62.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,694 shares of the real estate investment trust’s stock after selling 2,798 shares during the quarter. First Heartland Consultants Inc.’s holdings in American Tower were worth $394,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Balentine LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at about $586,000. Czech National Bank raised its stake in shares of American Tower by 6.9% in 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 period. Kingsview Wealth Management LLC raised its stake in shares of American Tower by 13.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after purchasing an additional 4,660 shares during the period. Tidal Investments LLC raised its stake in shares of American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares during the period. Finally, Cetera Advisors LLC raised its stake in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after purchasing an additional 9,275 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Down 1.2 %

Shares of NYSE:AMT opened at $193.72 on Wednesday. The company has a fifty day moving average of $225.56 and a 200-day moving average of $210.50. The company has a market capitalization of $90.52 billion, a PE ratio of 81.74, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. 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 Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last announced 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 return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the company posted $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.35%. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. TD Cowen raised their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $235.85.

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.