American Tower Co. (NYSE:AMT) Shares Bought by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC grew its stake in American Tower Co. (NYSE:AMT) by 9.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,579 shares of the real estate investment trust’s stock after purchasing an additional 4,247 shares during the period. Aptus Capital Advisors LLC’s holdings in American Tower were worth $11,530,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AMT. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at $25,000. Fortitude Family Office LLC boosted its holdings in shares of American Tower by 269.0% in the 3rd 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 in the last quarter. Fairscale Capital LLC purchased a new stake in American Tower in the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower in the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in American Tower in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. TD Cowen upped their price target on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Mizuho upped their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Barclays upped their price objective on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company downgraded shares of 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 research report on Thursday, October 10th. Four investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $235.85.

American Tower Price Performance

NYSE AMT traded down $3.46 during trading hours on Tuesday, reaching $192.62. The company’s stock had a trading volume of 566,084 shares, compared to its average volume of 2,311,133. The stock has a market cap of $90.01 billion, a PE ratio of 82.73, a PEG ratio of 1.34 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company’s 50-day moving average is $225.56 and its two-hundred day moving average is $210.50. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. 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 previous year, the company posted $2.58 earnings per share. American Tower’s revenue was down 10.5% on a year-over-year basis. Analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.36%. American Tower’s dividend payout ratio is currently 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.