We Are One Seven LLC Buys 820 Shares of American Tower Co. (REIT) (NYSE:AMT)

We Are One Seven LLC raised its stake in American Tower Co. (REIT) (NYSE:AMT) by 6.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,630 shares of the real estate investment trust’s stock after purchasing an additional 820 shares during the quarter. We Are One Seven LLC’s holdings in American Tower were worth $3,561,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Destiny Wealth Partners LLC bought a new position in shares of American Tower during the third quarter valued at approximately $30,000. Canton Hathaway LLC bought a new position in shares of American Tower during the third quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd purchased a new stake in American Tower in the second quarter worth $34,000. Albion Financial Group UT purchased a new stake in American Tower in the second quarter worth $36,000. Finally, GeoWealth Management LLC purchased a new stake in American Tower in the second quarter worth $37,000. Institutional investors own 89.57% of the company’s stock.

AMT has been the topic of a number of recent research reports. Morgan Stanley cut their target price on American Tower from $316.00 to $294.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 1st. Raymond James dropped their price objective on American Tower from $296.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, November 1st. KeyCorp increased their price objective on American Tower from $302.00 to $311.00 and gave the company an “overweight” rating in a research report on Friday, October 29th. Wells Fargo & Company lowered their target price on American Tower from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, November 19th. Finally, Oppenheimer downgraded American Tower from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $305.00 to $300.00 in a report on Friday, September 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, American Tower has an average rating of “Buy” and a consensus target price of $294.47.

Shares of NYSE AMT traded down $1.47 during trading on Friday, hitting $263.42. The company had a trading volume of 7,753 shares, compared to its average volume of 2,592,690. The stock has a 50 day simple moving average of $273.67 and a 200 day simple moving average of $278.47. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.30 and a current ratio of 1.30. American Tower Co. has a 12 month low of $197.50 and a 12 month high of $303.72. The firm has a market capitalization of $119.97 billion, a P/E ratio of 48.16, a price-to-earnings-growth ratio of 2.45 and a beta of 0.37.

American Tower (NYSE:AMT) last released its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.69). American Tower had a return on equity of 39.34% and a net margin of 27.44%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the business posted $2.23 EPS. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts predict that American Tower Co. will post 9.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Monday, December 27th will be given a dividend of $1.39 per share. The ex-dividend date of this dividend is Thursday, December 23rd. This represents a $5.56 annualized dividend and a dividend yield of 2.11%. This is a boost from American Tower’s previous quarterly dividend of $1.31. American Tower’s dividend payout ratio (DPR) is currently 101.09%.

In other American Tower news, Director Pamela D. A. Reeve sold 3,590 shares of the firm’s stock in a transaction that occurred on Thursday, December 9th. The stock was sold at an average price of $273.02, for a total transaction of $980,141.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joann A. Reed sold 866 shares of the firm’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $260.50, for a total value of $225,593.00. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

About American Tower

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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