Arjuna Capital Sells 222 Shares of American Tower Co. (NYSE:AMT)

Arjuna Capital decreased its position in American Tower Co. (NYSE:AMT) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,376 shares of the real estate investment trust’s stock after selling 222 shares during the quarter. Arjuna Capital’s holdings in American Tower were worth $3,343,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new stake in shares of American Tower in the 2nd quarter worth $25,000. Fortitude Family Office LLC boosted its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower in the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower in the 2nd quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the 3rd quarter worth about $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of American Tower stock traded up $3.63 on Wednesday, reaching $197.35. The stock had a trading volume of 230,611 shares, compared to its average volume of 2,312,528. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market cap of $92.22 billion, a P/E ratio of 81.74, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s 50 day moving average is $224.82 and its two-hundred day moving average is $210.66.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 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 revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.58 earnings per share. As a group, research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analysts Set New Price Targets

AMT has been the topic of a number of research analyst reports. TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada boosted their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target 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. Barclays boosted their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.85.

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.