American Tower Co. (NYSE:AMT) Shares Sold by Aureus Asset Management LLC

Aureus Asset Management LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 161,181 shares of the real estate investment trust’s stock after selling 4,376 shares during the period. American Tower accounts for approximately 2.5% of Aureus Asset Management LLC’s holdings, making the stock its 14th largest holding. Aureus Asset Management LLC’s holdings in American Tower were worth $37,484,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMT. FMR LLC lifted its stake in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Adelante Capital Management LLC lifted its stake in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Mizuho raised their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Price Performance

Shares of AMT opened at $209.00 on Monday. The firm has a market cap of $97.66 billion, a price-to-earnings ratio of 88.19, a PEG ratio of 1.39 and a beta of 0.84. The stock has a 50 day moving average of $215.95 and a 200-day moving average of $212.61. 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 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last issued 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 posted $2.58 EPS. American Tower’s revenue was down 10.5% compared to the same quarter last year. As a group, analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. American Tower’s dividend payout ratio is currently 273.42%.

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.