Clear Creek Financial Management LLC Lowers Holdings in American Tower Co. (NYSE:AMT)

Clear Creek Financial Management LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,825 shares of the real estate investment trust’s stock after selling 225 shares during the period. Clear Creek Financial Management LLC’s holdings in American Tower were worth $657,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in 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 in the last quarter. Ameriprise Financial Inc. lifted its position in American Tower by 41.8% during the 2nd 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 during the period. Clearbridge Investments LLC boosted its position in American Tower by 8.9% in the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after buying an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after acquiring an additional 464,429 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in American Tower by 0.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust’s stock worth $315,868,000 after purchasing an additional 6,193 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMT has been the subject of several analyst reports. Royal Bank of Canada boosted 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. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, BMO Capital Markets dropped 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 note on Wednesday, October 30th. Four research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Stock Down 1.1 %

Shares of NYSE AMT opened at $211.26 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50-day moving average price of $228.14 and a 200 day moving average price of $209.20. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market capitalization of $98.68 billion, a price-to-earnings ratio of 89.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings data 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. American Tower’s quarterly revenue was down 10.5% on a year-over-year basis. Equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 annualized dividend and a yield of 3.07%. American Tower’s dividend payout ratio (DPR) is presently 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.