Koa Wealth Management LLC Has $3.55 Million Position in American Tower Co. (NYSE:AMT)

Koa Wealth Management LLC reduced its holdings in American Tower Co. (NYSE:AMT) by 9.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,276 shares of the real estate investment trust’s stock after selling 1,525 shares during the quarter. American Tower makes up 2.7% of Koa Wealth Management LLC’s portfolio, making the stock its 9th biggest position. Koa Wealth Management LLC’s holdings in American Tower were worth $3,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. raised its position in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC grew its stake in 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 worth $231,941,000 after buying an additional 993,061 shares during the last quarter. International Assets Investment Management LLC increased its position in American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after buying an additional 775,379 shares during the period. Swedbank AB bought a new stake in American Tower in the first quarter valued at $123,861,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of American Tower by 16.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after acquiring an additional 464,429 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMT. Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Barclays increased their price target on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Scotiabank reduced their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. TD Cowen raised their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Mizuho upped 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 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 stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Stock Performance

Shares of NYSE AMT opened at $196.45 on Friday. The stock’s fifty day simple moving average is $222.51 and its 200 day simple moving average is $210.59. The stock has a market capitalization of $91.80 billion, a price-to-earnings ratio of 82.89, a PEG ratio of 1.30 and a beta of 0.84. The company has a quick ratio of 0.69, a current 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 quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the business posted $2.58 EPS. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued 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 dividend yield of 3.30%. American Tower’s dividend payout ratio is 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.