American Tower Co. (NYSE:AMT) Stock Position Reduced by First Western Trust Bank

First Western Trust Bank trimmed its position in American Tower Co. (NYSE:AMT) by 12.3% in the third quarter, Holdings Channel.com reports. The fund owned 19,579 shares of the real estate investment trust’s stock after selling 2,757 shares during the period. First Western Trust Bank’s holdings in American Tower were worth $4,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC lifted its position in shares of American Tower by 17.7% in the 1st quarter. Intech Investment Management LLC now owns 5,520 shares of the real estate investment trust’s stock worth $1,091,000 after buying an additional 831 shares during the last quarter. Edgestream Partners L.P. raised its stake in American Tower by 110.4% during the first quarter. Edgestream Partners L.P. now owns 2,321 shares of the real estate investment trust’s stock worth $459,000 after acquiring an additional 1,218 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in American Tower by 9.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 40,273 shares of the real estate investment trust’s stock worth $7,958,000 after acquiring an additional 3,396 shares during the last quarter. PYA Waltman Capital LLC boosted its stake in American Tower by 2.1% in the first quarter. PYA Waltman Capital LLC now owns 7,854 shares of the real estate investment trust’s stock valued at $1,552,000 after acquiring an additional 165 shares during the period. Finally, Arjuna Capital grew its holdings in shares of American Tower by 6.0% during the first quarter. Arjuna Capital now owns 14,448 shares of the real estate investment trust’s stock valued at $2,855,000 after purchasing an additional 814 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 0.9 %

American Tower stock opened at $196.45 on Monday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock has a market capitalization of $91.80 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The firm has a 50 day simple moving average of $222.51 and a 200-day simple moving average of $211.10. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, equities research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

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 $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.30%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Barclays upped their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

About American Tower

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.