MAI Capital Management Has $25.79 Million Holdings in American Tower Co. (NYSE:AMT)

MAI Capital Management decreased its stake in American Tower Co. (NYSE:AMT) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,878 shares of the real estate investment trust’s stock after selling 3,806 shares during the period. MAI Capital Management’s holdings in American Tower were worth $25,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Cultivar Capital Inc. bought a new position in American Tower during the second quarter worth $25,000. Fortitude Family Office LLC grew 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 acquiring an additional 78 shares during the period. Fairscale Capital LLC bought a new position in shares of American Tower in the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the 2nd quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Mizuho increased their target price 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. Scotiabank decreased 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 note on Wednesday, October 30th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $235.85.

American Tower Stock Performance

Shares of AMT opened at $196.45 on Monday. The firm has a market capitalization of $91.80 billion, a P/E ratio of 82.89, a P/E/G ratio of 1.31 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 stock has a 50 day moving average price of $222.51 and a two-hundred day moving average price of $211.10. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (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 company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company posted $2.58 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.30%. 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.