Mine & Arao Wealth Creation & Management LLC. Sells 70 Shares of American Tower Co. (NYSE:AMT)

Mine & Arao Wealth Creation & Management LLC. reduced its holdings in American Tower Co. (NYSE:AMT) by 2.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,446 shares of the real estate investment trust’s stock after selling 70 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in American Tower were worth $569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBT Bank N A NY raised its position in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares during the period. CX Institutional grew its stake in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after acquiring an additional 54 shares in the last quarter. O Brien Greene & Co. Inc grew its stake in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after acquiring an additional 55 shares in the last quarter. CFO4Life Group LLC increased its position in American Tower by 5.4% during the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 57 shares during the period. Finally, Palumbo Wealth Management LLC boosted its holdings in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMT. Mizuho lifted their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. BMO Capital Markets lowered their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Barclays upped their price target on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Up 0.2 %

AMT stock opened at $197.87 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a fifty day moving average of $227.07 and a 200-day moving average of $209.71. The company has a market capitalization of $92.46 billion, a price-to-earnings ratio of 83.49, a PEG ratio of 1.38 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 (NYSE:AMT) last posted 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 net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the firm earned $2.58 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is presently 273.42%.

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.