American Tower Co. (NYSE:AMT) Stock Position Lowered by Missouri Trust & Investment Co

Missouri Trust & Investment Co decreased its stake in American Tower Co. (NYSE:AMT) by 1.8% in the third quarter, Holdings Channel reports. The institutional investor owned 7,962 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. American Tower makes up approximately 0.6% of Missouri Trust & Investment Co’s holdings, making the stock its 29th largest position. Missouri Trust & Investment Co’s holdings in American Tower were worth $1,852,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cultivar Capital Inc. bought a new position in shares of American Tower during the 2nd quarter worth about $25,000. Fortitude Family Office LLC increased 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 purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new stake in American Tower in the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the second quarter worth $29,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the third quarter worth $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AMT. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays lifted 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. Royal Bank of Canada lifted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Price Performance

Shares of AMT stock traded down $3.77 during trading on Tuesday, hitting $192.31. The company had a trading volume of 348,264 shares, compared to its average volume of 2,310,139. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s 50-day moving average is $225.56 and its two-hundred day moving average is $210.50. The stock has a market capitalization of $89.86 billion, a price-to-earnings ratio of 82.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last issued its 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 return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts predict 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. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

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.