Catalina Capital Group LLC Boosts Stock Position in American Tower Co. (NYSE:AMT)

Catalina Capital Group LLC raised its stake in American Tower Co. (NYSE:AMT) by 6.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,440 shares of the real estate investment trust’s stock after acquiring an additional 91 shares during the period. Catalina Capital Group LLC’s holdings in American Tower were worth $335,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AMT. Balentine LLC purchased a new position in American Tower during the 3rd quarter worth $586,000. Heritage Investors Management Corp raised its holdings in American Tower by 1.0% during the third quarter. Heritage Investors Management Corp now owns 102,873 shares of the real estate investment trust’s stock worth $23,924,000 after purchasing an additional 985 shares in the last quarter. River Road Asset Management LLC lifted its position in American Tower by 6.6% in the third quarter. River Road Asset Management LLC now owns 93,147 shares of the real estate investment trust’s stock valued at $21,662,000 after purchasing an additional 5,787 shares during the period. Pittenger & Anderson Inc. boosted its holdings in American Tower by 6.9% in the 3rd quarter. Pittenger & Anderson Inc. now owns 93,634 shares of the real estate investment trust’s stock valued at $21,776,000 after purchasing an additional 6,084 shares in the last quarter. Finally, United Advisor Group LLC raised its stake in shares of American Tower by 8.2% during the 3rd quarter. United Advisor Group LLC now owns 3,104 shares of the real estate investment trust’s stock worth $722,000 after buying an additional 234 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. TD Cowen boosted their target price 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. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Barclays upped their target price 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. Finally, Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Price Performance

Shares of NYSE:AMT opened at $197.41 on Thursday. 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 business’s fifty day moving average price is $227.07 and its two-hundred day moving average price is $209.71. The stock has a market cap of $92.21 billion, a PE ratio of 83.30, a price-to-earnings-growth ratio of 1.48 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

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

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

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.