American Tower Co. (NYSE:AMT) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,515 shares of the real estate investment trust’s stock after selling 1,379 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American Tower were worth $13,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cultivar Capital Inc. acquired a new stake in shares of American Tower during the second quarter worth $25,000. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% during the 3rd 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 purchased a new stake in American Tower during the second quarter valued at 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 purchased a new position in shares of American Tower in the third quarter worth approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Barclays lifted 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. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $235.85.

American Tower Trading Up 0.9 %

American Tower stock opened at $196.45 on Monday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company’s fifty day moving average price is $222.51 and its two-hundred day moving average price is $211.10. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $91.80 billion, a price-to-earnings ratio of 82.89, a PEG ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for 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%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 EPS. On average, analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 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.