American Tower Co. (NYSE:AMT) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 143,658 shares of the real estate investment trust’s stock after purchasing an additional 6,974 shares during the quarter. Kingsview Wealth Management LLC’s holdings in American Tower were worth $33,409,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cultivar Capital Inc. acquired a new stake in American Tower during the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC grew its stake 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 valued at $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the 2nd quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7 %

Shares of American Tower stock opened at $204.32 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $95.48 billion, a price-to-earnings ratio of 86.21, a price-to-earnings-growth ratio of 1.35 and a beta of 0.84. The business has a fifty day simple moving average of $218.75 and a 200-day simple moving average of $211.42. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the company earned $2.58 EPS. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced 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. This represents a $6.48 annualized dividend and a dividend yield of 3.17%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Barclays cut their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.