American Tower Co. (NYSE:AMT) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. increased its position in shares of American Tower Co. (NYSE:AMT) by 8.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,787 shares of the real estate investment trust’s stock after acquiring an additional 139 shares during the period. Kovack Advisors Inc.’s holdings in American Tower were worth $415,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cultivar Capital Inc. acquired a new position in American Tower in the 2nd quarter valued at about $25,000. Fortitude Family Office LLC lifted its stake in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC acquired a new stake in American Tower during the second quarter worth approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter valued at $30,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Mizuho increased their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. TD Cowen increased their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Stock Down 0.1 %

Shares of American Tower stock opened at $194.91 on Friday. The company has a market capitalization of $91.08 billion, a P/E ratio of 82.24, a PEG ratio of 1.30 and a beta of 0.84. 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 Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The business’s fifty day moving average price is $224.08 and its two-hundred day moving average price is $210.55.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate 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%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 EPS. As a group, research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given 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 3.32%. American Tower’s dividend payout ratio (DPR) is 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.