Strengthening Families & Communities LLC Has $2.45 Million Position in American Tower Co. (NYSE:AMT)

Strengthening Families & Communities LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 8.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,523 shares of the real estate investment trust’s stock after acquiring an additional 778 shares during the quarter. Strengthening Families & Communities LLC’s holdings in American Tower were worth $2,447,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Fortitude Family Office LLC boosted its stake in 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 valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new stake in shares of American Tower during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at $30,000. Cultivar Capital Inc. acquired a new position in American Tower during the second quarter worth about $25,000. Finally, Hara Capital LLC acquired a new position in American Tower during the 3rd quarter worth approximately $31,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMT has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Royal Bank of Canada upped their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, Scotiabank lowered their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Up 0.9 %

AMT opened at $196.45 on Monday. The company has a 50 day moving average of $222.51 and a 200 day moving average of $211.10. The company has a market cap of $91.80 billion, a PE ratio of 82.89, a price-to-earnings-growth ratio of 1.31 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 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 (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 for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. On average, sell-side analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio 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.