American Tower Co. (NYSE:AMT) Position Decreased by Waterfront Capital Partners LLC

Waterfront Capital Partners LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 81.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,411 shares of the real estate investment trust’s stock after selling 223,529 shares during the period. American Tower comprises approximately 1.6% of Waterfront Capital Partners LLC’s portfolio, making the stock its 21st biggest holding. Waterfront Capital Partners LLC’s holdings in American Tower were worth $11,956,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new position in shares of American Tower during the 2nd quarter valued at about $25,000. Fortitude Family Office LLC boosted 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 buying an additional 78 shares during the period. Fairscale Capital LLC acquired a new position in shares of American Tower in the second quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the third quarter worth about $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.6 %

Shares of American Tower stock opened at $209.30 on Friday. The company has a market cap of $97.80 billion, a price-to-earnings ratio of 88.31, a PEG ratio of 1.39 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company’s fifty day simple moving average is $216.48 and its 200-day simple moving average is $212.12. 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 released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts expect 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 was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. American Tower’s payout ratio is 273.42%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Scotiabank reduced their price target 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Barclays reduced their price target 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, November 18th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower 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.