American Tower Co. (NYSE:AMT) Stock Holdings Raised by Jacobs & Co. CA

Jacobs & Co. CA raised its stake in American Tower Co. (NYSE:AMT) by 50.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 35,044 shares of the real estate investment trust’s stock after acquiring an additional 11,799 shares during the period. Jacobs & Co. CA’s holdings in American Tower were worth $6,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 valued at $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $34,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 2.9 %

Shares of AMT traded down $5.27 during midday trading on Friday, hitting $173.92. The stock had a trading volume of 2,223,137 shares, compared to its average volume of 2,253,526. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business has a 50-day simple moving average of $195.74 and a two-hundred day simple moving average of $211.81. The firm has a market cap of $81.27 billion, a P/E ratio of 73.38, 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.

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

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Barclays reduced their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.67.

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.