Copley Financial Group Inc. Invests $484,000 in American Tower Co. (NYSE:AMT)

Copley Financial Group Inc. purchased a new stake in shares of American Tower Co. (NYSE:AMT) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,083 shares of the real estate investment trust’s stock, valued at approximately $484,000.

A number of other large investors have also added to or reduced their stakes in AMT. Diversified Trust Co increased its position in American Tower by 101.1% in the second quarter. Diversified Trust Co now owns 2,848 shares of the real estate investment trust’s stock worth $554,000 after buying an additional 1,432 shares during the last quarter. Blue Trust Inc. boosted its position in American Tower by 24.1% during the second quarter. Blue Trust Inc. now owns 3,827 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 744 shares during the period. Brookstone Capital Management raised its position in shares of American Tower by 13.7% in the second quarter. Brookstone Capital Management now owns 6,944 shares of the real estate investment trust’s stock valued at $1,480,000 after purchasing an additional 836 shares during the period. Timber Creek Capital Management LLC lifted its stake in shares of American Tower by 142.8% during the 2nd quarter. Timber Creek Capital Management LLC now owns 18,641 shares of the real estate investment trust’s stock valued at $3,623,000 after buying an additional 10,964 shares in the last quarter. Finally, Everpar Advisors LLC boosted its holdings in American Tower by 14.4% in the 2nd quarter. Everpar Advisors LLC now owns 1,831 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 231 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock traded down $1.31 during trading on Friday, hitting $196.54. 221,647 shares of the stock traded hands, compared to its average volume of 2,314,620. The firm’s fifty day moving average is $210.92 and its 200-day moving average is $213.17. The stock has a market cap of $91.84 billion, a price-to-earnings ratio of 83.49, a PEG ratio of 1.33 and a beta of 0.83. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted 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 for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business posted $2.58 earnings per share. The company’s revenue was down 10.5% compared to the same quarter last year. Research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.30%. American Tower’s payout ratio is 273.42%.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday. BMO Capital Markets decreased their price target 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. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their target price 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. Finally, Barclays cut their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

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.