Main Street Financial Solutions LLC Has $836,000 Stock Position in American Tower Co. (NYSE:AMT)

Main Street Financial Solutions LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 5.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,595 shares of the real estate investment trust’s stock after selling 198 shares during the period. Main Street Financial Solutions LLC’s holdings in American Tower were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of AMT. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC lifted its position in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new position in American Tower during the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower in the second quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of American Tower during the third quarter worth about $30,000. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research reports. Mizuho boosted their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Barclays increased their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Price Performance

NYSE:AMT opened at $195.16 on Thursday. The firm has a market cap of $91.20 billion, a price-to-earnings ratio of 82.35, a P/E/G ratio of 1.29 and a beta of 0.84. 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 0.69 and a current ratio of 0.69. The firm’s 50-day simple moving average is $224.82 and its 200 day simple moving average is $210.66.

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). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. As a group, sell-side analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm 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 of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.32%. American Tower’s dividend payout ratio is currently 273.42%.

About American Tower

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.