Tidal Investments LLC Purchases 1,032 Shares of American Tower Co. (NYSE:AMT)

Tidal Investments LLC increased its holdings in American Tower Co. (NYSE:AMT) by 5.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 19,990 shares of the real estate investment trust’s stock after buying an additional 1,032 shares during the period. Tidal Investments LLC’s holdings in American Tower were worth $4,649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in shares of American Tower by 24.1% in the 2nd quarter. Blue Trust Inc. now owns 3,827 shares of the real estate investment trust’s stock worth $756,000 after buying an additional 744 shares during the last quarter. Brookstone Capital Management boosted its stake in 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 acquiring an additional 836 shares during the last quarter. Everpar Advisors LLC grew its position in shares of American Tower by 14.4% during the 2nd quarter. Everpar Advisors LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $356,000 after acquiring an additional 231 shares during the period. Tyche Wealth Partners LLC increased its stake in shares of 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 during the last quarter. Finally, Blossom Wealth Management raised its holdings in shares of American Tower by 3.9% in the 2nd quarter. Blossom Wealth Management now owns 2,286 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 85 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Performance

NYSE AMT opened at $197.17 on Friday. The company’s 50 day simple moving average is $210.40 and its two-hundred day simple moving average is $213.24. 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 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $92.14 billion, a PE ratio of 83.19, a P/E/G ratio of 1.33 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $2.77 billion. During the same quarter last year, the business posted $2.58 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.29%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank dropped their price target on 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. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

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.