American Tower Co. (NYSE:AMT) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC lowered its position in American Tower Co. (NYSE:AMT) by 0.5% in the third quarter, Holdings Channel.com reports. The firm owned 38,955 shares of the real estate investment trust’s stock after selling 201 shares during the quarter. Janney Capital Management LLC’s holdings in American Tower were worth $9,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position 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 acquiring an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after purchasing an additional 993,061 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of American Tower by 1.6% in 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 period. M&G Plc purchased a new stake in American Tower during the first quarter worth about $164,300,000. Finally, International Assets Investment Management LLC grew its position in 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 worth $1,811,330,000 after buying an additional 775,379 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AMT shares. Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday. Mizuho raised their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Barclays raised their target price on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Trading Down 1.1 %

Shares of AMT opened at $211.26 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market capitalization of $98.68 billion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. The stock has a fifty day moving average of $228.14 and a two-hundred day moving average of $208.94. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.81 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its 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 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%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 earnings per share. As a group, analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.07%. American Tower’s payout ratio is 273.42%.

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.