American Tower Co. (NYSE:AMT) Shares Sold by Haverford Trust Co

Haverford Trust Co decreased its holdings in American Tower Co. (NYSE:AMT) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 187,602 shares of the real estate investment trust’s stock after selling 645 shares during the quarter. Haverford Trust Co’s holdings in American Tower were worth $43,629,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its stake in American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after buying an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of American Tower by 1.6% during the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after purchasing an additional 965,938 shares during the last quarter. M&G Plc bought a new position in shares of American Tower during the first quarter valued at approximately $164,300,000. Finally, International Assets Investment Management LLC grew its holdings in shares of American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Mizuho increased 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. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $235.85.

American Tower Trading Down 1.2 %

Shares of NYSE:AMT opened at $193.72 on Wednesday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a market cap of $90.52 billion, a P/E ratio of 81.74, a P/E/G ratio of 1.31 and a beta of 0.84. The stock’s 50-day moving average is $225.56 and its 200-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 announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company 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 quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.35%. American Tower’s 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.