American Tower Co. (NYSE:AMT) Position Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in American Tower Co. (NYSE:AMT) by 1.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 130,175 shares of the real estate investment trust’s stock after buying an additional 1,453 shares during the quarter. Thrivent Financial for Lutherans’ holdings in American Tower were worth $30,273,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cultivar Capital Inc. bought a new stake in American Tower in the second quarter valued at $25,000. Fortitude Family Office LLC lifted its stake in American Tower by 269.0% in 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 last quarter. Fairscale Capital LLC bought a new stake in shares of American Tower during the second quarter valued at about $27,000. Hobbs Group Advisors LLC bought a new stake in American Tower in the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter worth about $30,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Wells Fargo & Company cut 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 research note on Thursday, October 10th. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Barclays lowered their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Up 1.2 %

NYSE AMT opened at $201.17 on Wednesday. American Tower Co. has a twelve month low of $170.46 and a twelve month 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 stock has a market cap of $94.00 billion, a PE ratio of 84.88, a PEG ratio of 1.31 and a beta of 0.84. The firm has a 50-day simple moving average of $220.88 and a 200 day simple moving average of $211.37.

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 for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 EPS. On average, research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio 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.