Mendel Capital Management LLC Sells 86 Shares of American Tower Co. (NYSE:AMT)

Mendel Capital Management LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,527 shares of the real estate investment trust’s stock after selling 86 shares during the quarter. Mendel Capital Management LLC’s holdings in American Tower were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cultivar Capital Inc. bought a new stake in American Tower during the second quarter valued at approximately $25,000. Fortitude Family Office LLC grew its position in shares of 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 acquiring an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in shares of American Tower in the 2nd quarter worth $27,000. Hobbs Group Advisors LLC bought a new position in American Tower in the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower during the third quarter valued at $30,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

NYSE:AMT opened at $196.45 on Monday. The company has a market capitalization of $91.80 billion, a P/E ratio of 82.89, a P/E/G ratio of 1.31 and a beta of 0.84. The business’s 50-day moving average is $222.51 and its 200 day moving average is $211.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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 company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of analyst reports. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank reduced their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Four 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

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.