Douglass Winthrop Advisors LLC Cuts Stock Holdings in American Tower Co. (NYSE:AMT)

Douglass Winthrop Advisors LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 4.2% during the third quarter, Holdings Channel reports. The institutional investor owned 5,233 shares of the real estate investment trust’s stock after selling 227 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in American Tower were worth $1,217,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cultivar Capital Inc. bought a new position in American Tower during the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC grew its holdings in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower in the second quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in American Tower during the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in American Tower during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.7 %

Shares of American Tower stock opened at $204.31 on Monday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market cap of $95.47 billion, a price-to-earnings ratio of 86.21, a PEG ratio of 1.36 and a beta of 0.84. The company has a 50-day moving average of $218.75 and a 200 day moving average of $211.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. As a group, sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective 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. JPMorgan Chase & Co. upped their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays cut their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

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.