Thrivent Financial for Lutherans Increases Stake in American Tower Co. (NYSE:AMT)

Thrivent Financial for Lutherans boosted its holdings in American Tower Co. (NYSE:AMT) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 130,175 shares of the real estate investment trust’s stock after buying an additional 1,453 shares during the period. Thrivent Financial for Lutherans’ holdings in American Tower were worth $30,273,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. NBT Bank N A NY raised its holdings in American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after buying an additional 54 shares during the period. CX Institutional raised its holdings in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares during the period. O Brien Greene & Co. Inc raised its holdings in American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 55 shares during the period. Palumbo Wealth Management LLC raised its holdings in American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC raised its holdings in American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Scotiabank lowered their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Barclays lowered their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday. Finally, BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $235.54.

American Tower Stock Up 1.2 %

AMT stock opened at $201.17 on Wednesday. The company has a market capitalization of $94.00 billion, a P/E ratio of 84.88, a PEG ratio of 1.31 and a beta of 0.84. The firm has a 50 day simple moving average of $220.88 and a 200-day simple moving average of $211.37. 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 Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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 analysts’ consensus estimates 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 return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.58 EPS. On average, equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

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.