American Tower Co. (NYSE:AMT) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. cut its holdings in shares of American Tower Co. (NYSE:AMT) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,263 shares of the real estate investment trust’s stock after selling 610 shares during the period. Linscomb Wealth Inc.’s holdings in American Tower were worth $11,922,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Balentine LLC purchased a new stake in shares of American Tower during the third quarter valued at $586,000. Czech National Bank raised its holdings in American Tower by 6.9% in the 3rd 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. Tidal Investments LLC raised its holdings in American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after acquiring an additional 4,430 shares during the last quarter. Cetera Advisors LLC raised its holdings in American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares during the last quarter. Finally, M&G Plc purchased a new stake in shares of American Tower in the 1st quarter valued at approximately $164,300,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of NYSE:AMT traded up $0.34 during midday trading on Friday, hitting $195.11. The stock had a trading volume of 332,297 shares, compared to its average volume of 2,313,043. The company has a market capitalization of $91.17 billion, a PE ratio of 82.11, a P/E/G ratio of 1.30 and a beta of 0.84. The stock has a 50 day moving average price of $223.30 and a two-hundred day moving average price of $210.44. 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 1 year low of $170.46 and a 1 year 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 company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 EPS. As a group, equities analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMT. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. raised their price target 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. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

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.