RMR Wealth Builders Buys 1,008 Shares of American Tower Co. (NYSE:AMT)

by · The Cerbat Gem

RMR Wealth Builders increased its holdings in American Tower Co. (NYSE:AMT – Free Report) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,998 shares of the real estate investment trust’s stock after acquiring an additional 1,008 shares during the period. RMR Wealth Builders’ holdings in American Tower were worth $1,650,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AMT. FMR LLC raised its stake in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after buying an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Adelante Capital Management LLC raised its position in shares of American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after purchasing an additional 775,379 shares during the period. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on AMT. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $233.67.

Check Out Our Latest Stock Analysis on AMT

American Tower Stock Performance

Shares of AMT stock traded down $5.65 during mid-day trading on Friday, hitting $173.54. 3,524,882 shares of the stock were exchanged, compared to its average volume of 2,480,025. The stock has a market capitalization of $81.09 billion, a price-to-earnings ratio of 73.22, a P/E/G ratio of 1.31 and a beta of 0.84. 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 Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock’s fifty day simple moving average is $195.74 and its two-hundred day simple moving average is $211.81.

American Tower (NYSE:AMT – Get Free Report) last posted 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. 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 3.73%. American Tower’s dividend payout ratio (DPR) is 273.42%.

American Tower Company Profile

(Free Report)

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.

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