American Tower Co. (NYSE:AMT) Position Trimmed by Forte Capital LLC ADV

Forte Capital LLC ADV reduced its holdings in American Tower Co. (NYSE:AMT) by 4.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,959 shares of the real estate investment trust’s stock after selling 171 shares during the quarter. Forte Capital LLC ADV’s holdings in American Tower were worth $921,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Cultivar Capital Inc. acquired a new position in American Tower in the second quarter valued at approximately $25,000. Fortitude Family Office LLC boosted its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new position in American Tower during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the second quarter worth $29,000. Finally, Northwest Investment Counselors LLC bought a new stake in American Tower in the third quarter valued at $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 7.7 %

NYSE AMT opened at $197.41 on Thursday. The company has a market capitalization of $92.21 billion, a P/E ratio of 83.30, a PEG ratio of 1.48 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month 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. The company’s 50 day simple moving average is $227.07 and its 200 day simple moving average is $209.71.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 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 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% on a year-over-year basis. During the same quarter last year, the company posted $2.58 EPS. Equities research 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 declared 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 was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.28%. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

A number of research firms recently weighed in on AMT. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Mizuho increased their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.