First Pacific Financial Has $895,000 Stock Holdings in American Tower Co. (NYSE:AMT)

First Pacific Financial lowered its position in shares of American Tower Co. (NYSE:AMT) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,881 shares of the real estate investment trust’s stock after selling 586 shares during the quarter. First Pacific Financial’s holdings in American Tower were worth $895,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMT. Fortitude Family Office LLC lifted its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new position in American Tower in the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower during the 3rd quarter worth $30,000. Hara Capital LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $31,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AMT shares. Barclays reduced their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted 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. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Stock Up 5.5 %

Shares of American Tower stock opened at $190.26 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week 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 business’s 50 day simple moving average is $193.24 and its 200 day simple moving average is $211.46. The firm has a market cap of $88.91 billion, a PE ratio of 80.28, a P/E/G ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last posted 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). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.58 earnings per share. On average, analysts predict that American Tower Co. will post 10.15 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.