Reston Wealth Management LLC Takes $66,000 Position in American Tower Co. (NYSE:AMT)

Reston Wealth Management LLC bought a new position in shares of American Tower Co. (NYSE:AMT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 284 shares of the real estate investment trust’s stock, valued at approximately $66,000.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Czech National Bank lifted its position in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after acquiring an additional 6,163 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in shares of American Tower by 13.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after purchasing an additional 4,660 shares during the period. Tidal Investments LLC grew its stake in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after buying an additional 4,430 shares during the last quarter. Cetera Advisors LLC increased its position in American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after buying an additional 9,275 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of American Tower by 5.3% in the first quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock valued at $172,061,000 after acquiring an additional 43,531 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMT shares. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. TD Cowen upped their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Scotiabank decreased their price objective 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. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday. Four investment 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 stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Trading Up 0.0 %

Shares of American Tower stock opened at $213.54 on Friday. The firm has a market cap of $99.74 billion, a PE ratio of 90.10, a P/E/G ratio of 1.04 and a beta of 0.83. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business’s fifty day moving average is $228.45 and its two-hundred day moving average is $208.46.

American Tower (NYSE:AMT) last posted its quarterly 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 net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Analysts anticipate that American Tower Co. will post 10.08 earnings per share 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) 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.