United Advisor Group LLC Acquires 234 Shares of American Tower Co. (NYSE:AMT)

United Advisor Group LLC raised its holdings in American Tower Co. (NYSE:AMT) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,104 shares of the real estate investment trust’s stock after buying an additional 234 shares during the period. United Advisor Group LLC’s holdings in American Tower were worth $722,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of 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 purchasing an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC lifted its stake in American Tower by 23,224.1% in 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 acquiring an additional 993,061 shares during the last quarter. Vanguard Group Inc. grew its position in shares of American Tower by 1.6% in the 1st 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 acquiring an additional 965,938 shares during the period. M&G Plc bought a new stake in shares of American Tower in the 1st quarter valued at about $164,300,000. Finally, International Assets Investment Management LLC grew its holdings 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 purchasing an additional 775,379 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of AMT opened at $213.86 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market cap of $99.89 billion, a PE ratio of 90.24, a PEG ratio of 1.48 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The business has a 50-day simple moving average of $227.63 and a two-hundred day simple moving average of $209.79.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the company earned $2.58 EPS. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.03%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Analyst Upgrades and Downgrades

Several research firms have commented on AMT. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays increased their target price on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets decreased 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 investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

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.