StrongBox Wealth LLC Increases Position in American Tower Co. (NYSE:AMT)

StrongBox Wealth LLC grew its position in shares of American Tower Co. (NYSE:AMT) by 58.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,760 shares of the real estate investment trust’s stock after buying an additional 1,018 shares during the quarter. StrongBox Wealth LLC’s holdings in American Tower were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in AMT. FMR LLC boosted its holdings in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $180.31 on Thursday. 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 company has a fifty day moving average of $193.58 and a two-hundred day moving average of $211.68. The stock has a market capitalization of $84.26 billion, a PE ratio of 76.08, a P/E/G ratio of 1.16 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.

American Tower (NYSE:AMT) last issued its earnings results 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 quarter last year, the company earned $2.58 earnings per share. American Tower’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, research analysts forecast that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.59%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. BMO Capital Markets decreased their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Scotiabank decreased their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $230.67.

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.