American Tower Co. (NYSE:AMT) Stake Lessened by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. decreased its position in shares of American Tower Co. (NYSE:AMT) by 69.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 201,932 shares of the real estate investment trust’s stock after selling 451,628 shares during the quarter. Daiwa Securities Group Inc.’s holdings in American Tower were worth $46,961,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. NBT Bank N A NY lifted its holdings 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 buying an additional 54 shares during the period. CX Institutional lifted its holdings in American Tower by 2.9% in 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 during the last quarter. O Brien Greene & Co. Inc boosted its position in shares of 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 valued at $481,000 after purchasing an additional 55 shares in the last quarter. Palumbo Wealth Management LLC grew its stake in shares of 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 worth $864,000 after purchasing an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC raised its holdings in shares of American Tower by 4.9% in 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. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.7 %

American Tower stock opened at $204.31 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $95.47 billion, a PE ratio of 86.21, a PEG ratio of 1.35 and a beta of 0.84. The business’s 50-day simple moving average is $218.75 and its 200-day simple moving average is $211.63.

American Tower (NYSE:AMT) last issued its quarterly 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). 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 the consensus estimate of $2.77 billion. During the same period in the prior year, the firm earned $2.58 earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. Equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current 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 given a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio is 273.42%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Four 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’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $235.54.

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.