RB Capital Management LLC Sells 429 Shares of American Tower Co. (NYSE:AMT)

RB Capital Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,814 shares of the real estate investment trust’s stock after selling 429 shares during the period. RB Capital Management LLC’s holdings in American Tower were worth $1,352,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts recently weighed in on AMT shares. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Barclays lowered their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Royal Bank of Canada lifted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Finally, BMO Capital Markets decreased 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. Four investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Trading Up 0.9 %

Shares of NYSE:AMT opened at $209.02 on Tuesday. 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’s 50-day moving average price is $212.85 and its two-hundred day moving average price is $213.27. The stock has a market capitalization of $97.67 billion, a PE ratio of 88.19, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $2.58 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. American Tower’s 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.