Stephens Inc. AR Sells 2,956 Shares of American Tower Co. (NYSE:AMT)

Stephens Inc. AR reduced its position in American Tower Co. (NYSE:AMT) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,375 shares of the real estate investment trust’s stock after selling 2,956 shares during the period. Stephens Inc. AR’s holdings in American Tower were worth $16,599,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. NBT Bank N A NY raised its holdings in American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after acquiring an additional 54 shares during the last quarter. CX Institutional raised its holdings in American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 54 shares during the last quarter. O Brien Greene & Co. Inc raised its holdings in American Tower by 2.3% in the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 55 shares during the last quarter. CFO4Life Group LLC raised its holdings in American Tower by 5.4% in the 1st quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 57 shares during the last quarter. Finally, Palumbo Wealth Management LLC raised its holdings in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AMT shares. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Royal Bank of Canada increased their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Barclays increased their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Trading Up 0.0 %

Shares of AMT stock opened at $213.54 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.81 and a current ratio of 0.69. The firm has a market capitalization of $99.74 billion, a PE ratio of 90.10, a PEG ratio of 1.04 and a beta of 0.83. The stock has a fifty day simple moving average of $228.45 and a two-hundred day simple moving average of $208.46.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.03%. American Tower’s payout ratio 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.