Boston Family Office LLC Lowers Stock Holdings in American Tower Co. (NYSE:AMT)

Boston Family Office LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 129,482 shares of the real estate investment trust’s stock after selling 143 shares during the period. American Tower accounts for 2.0% of Boston Family Office LLC’s investment portfolio, making the stock its 11th biggest holding. Boston Family Office LLC’s holdings in American Tower were worth $30,112,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Cultivar Capital Inc. purchased a new stake in American Tower during the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC increased its holdings in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in shares of American Tower during the second quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower during the second quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter valued at $30,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Up 0.7 %

Shares of American Tower stock opened at $204.31 on Monday. The company has a 50-day moving average of $218.75 and a two-hundred day moving average of $211.84. The stock has a market cap of $95.47 billion, a PE ratio of 86.21, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly 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 business 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%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 earnings per share. On average, research analysts anticipate 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 issued a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho increased their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $245.00 to $230.00 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 assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $235.54.

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.