Nicolet Advisory Services LLC Raises Stake in American Tower Co. (NYSE:AMT)

Nicolet Advisory Services LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 3.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,088 shares of the real estate investment trust’s stock after buying an additional 165 shares during the period. Nicolet Advisory Services LLC’s holdings in American Tower were worth $1,167,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AMT. NBT Bank N A NY grew its position in shares of American Tower by 3.3% in 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 acquiring an additional 54 shares in the last quarter. CX Institutional raised its position in shares of American Tower by 2.9% during the 3rd 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 lifted its stake in American Tower by 2.3% during the second 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 during the last quarter. Palumbo Wealth Management LLC boosted its holdings in American Tower by 1.6% in the third 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 during the period. Finally, Tyche Wealth Partners LLC increased its stake in American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent research reports. Scotiabank reduced their price target 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. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Mizuho raised their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Barclays lowered their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Four equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Price Performance

NYSE AMT opened at $204.32 on Friday. The firm has a market capitalization of $95.48 billion, a PE ratio of 86.21, a P/E/G ratio of 1.35 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 12 month low of $170.46 and a 12 month high of $243.56. The company’s 50 day simple moving average is $218.75 and its 200 day simple moving average is $211.42.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior 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 forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared 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 of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.17%. American Tower’s dividend payout ratio is currently 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.