Fiduciary Family Office LLC Trims Stock Holdings in American Tower Co. (NYSE:AMT)

Fiduciary Family Office LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,304 shares of the real estate investment trust’s stock after selling 56 shares during the period. Fiduciary Family Office LLC’s holdings in American Tower were worth $768,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMT. Cultivar Capital Inc. bought a new stake in American Tower in the second quarter worth $25,000. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% during 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 shares of American Tower during the second quarter valued at about $27,000. Hobbs Group Advisors LLC bought a new position in shares of American Tower during the second quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC bought a new position in American Tower in the third quarter worth about $30,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMT has been the topic of a number of recent research reports. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Barclays raised their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Scotiabank reduced 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 report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Stock Performance

American Tower stock traded up $0.58 during mid-day trading on Tuesday, reaching $212.69. 285,696 shares of the company traded hands, compared to its average volume of 2,265,279. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market capitalization of $99.34 billion, a price-to-earnings ratio of 89.50, a price-to-earnings-growth ratio of 1.48 and a beta of 0.84. The firm’s fifty day moving average is $227.87 and its two-hundred day moving average is $209.49.

American Tower (NYSE:AMT) last issued its quarterly 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 company had revenue of $2.52 billion for 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 company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS. On average, equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.05%. American Tower’s dividend payout ratio is presently 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.