Sheaff Brock Investment Advisors LLC Lowers Position in American Tower Co. (NYSE:AMT)

Sheaff Brock Investment Advisors LLC reduced its holdings in shares of American Tower Co. (NYSE:AMT) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,385 shares of the real estate investment trust’s stock after selling 60 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in American Tower were worth $1,485,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AMT. Orion Portfolio Solutions LLC lifted its position in shares of American Tower by 24.5% during the first quarter. Orion Portfolio Solutions LLC now owns 17,199 shares of the real estate investment trust’s stock worth $3,398,000 after purchasing an additional 3,381 shares in the last quarter. Motco grew its position in shares of American Tower by 4.7% during the first quarter. Motco now owns 1,801 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 81 shares during the last quarter. M&G Plc bought a new position in American Tower in the 1st quarter valued at about $164,300,000. Prevail Innovative Wealth Advisors LLC bought a new position in American Tower in the 1st quarter valued at about $2,146,000. Finally, Centersquare Investment Management LLC grew its position in American Tower by 2.4% in the 1st quarter. Centersquare Investment Management LLC now owns 653,596 shares of the real estate investment trust’s stock valued at $129,144,000 after buying an additional 15,600 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Up 0.4 %

Shares of American Tower stock opened at $195.50 on Friday. The stock has a fifty day simple moving average of $224.08 and a 200 day simple moving average of $210.55. 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 Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market capitalization of $91.36 billion, a P/E ratio of 82.24, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings results 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 firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend yield of 3.31%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Mizuho raised their target price 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. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Barclays boosted their target price on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.85.

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.