United Advisor Group LLC Has $722,000 Stake in American Tower Co. (NYSE:AMT)

United Advisor Group LLC lifted its stake in shares of American Tower Co. (NYSE:AMT) by 8.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,104 shares of the real estate investment trust’s stock after acquiring an additional 234 shares during the period. United Advisor Group LLC’s holdings in American Tower were worth $722,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fortitude Family Office LLC grew its stake in 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 valued at $25,000 after acquiring an additional 78 shares during the period. Fairscale Capital LLC acquired a new stake in American Tower in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC bought a new stake in American Tower during the 3rd quarter valued at $30,000. Cultivar Capital Inc. acquired a new position in American Tower during the second quarter worth $25,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of American Tower in the second quarter valued at $29,000. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 0.8 %

Shares of AMT stock opened at $213.86 on Wednesday. The stock has a market capitalization of $99.89 billion, a price-to-earnings ratio of 90.24, a PEG ratio of 1.48 and a beta of 0.84. The company’s fifty day simple moving average is $227.63 and its two-hundred day simple moving average is $209.79. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. 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 released 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 company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. As a group, analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid 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 3.03%. American Tower’s dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

AMT has been the topic of a number of analyst reports. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Barclays boosted their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.