American Tower Co. (NYSE:AMT) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 51,263 shares of the real estate investment trust’s stock after selling 610 shares during the quarter. Linscomb Wealth Inc.’s holdings in American Tower were worth $11,922,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. NBT Bank N A NY increased its position in American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares in the last quarter. CX Institutional increased its position in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares in the last quarter. O Brien Greene & Co. Inc increased its position in American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares in the last quarter. Palumbo Wealth Management LLC increased its position in American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC increased its position in American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays upped their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Four investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Price Performance

Shares of American Tower stock traded up $0.34 during trading on Friday, hitting $195.11. The stock had a trading volume of 332,297 shares, compared to its average volume of 2,313,043. The firm has a market cap of $91.17 billion, a price-to-earnings ratio of 82.11, a P/E/G ratio of 1.30 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 business’s 50-day moving average is $223.30 and its 200 day moving average is $210.44. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

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 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 firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the company earned $2.58 EPS. The firm’s revenue was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.32%. American Tower’s dividend payout ratio (DPR) 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.