American Tower Co. (NYSE:AMT) Shares Sold by Hixon Zuercher LLC

Hixon Zuercher LLC decreased its holdings in American Tower Co. (NYSE:AMT) by 2.7% in the third quarter, HoldingsChannel.com reports. The firm owned 18,420 shares of the real estate investment trust’s stock after selling 504 shares during the quarter. American Tower makes up 1.7% of Hixon Zuercher LLC’s holdings, making the stock its 24th biggest holding. Hixon Zuercher LLC’s holdings in American Tower were worth $4,284,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AMT. Czech National Bank lifted its position in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after acquiring an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after purchasing an additional 4,660 shares during the last quarter. Tidal Investments LLC boosted its stake in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock worth $8,157,000 after buying an additional 9,275 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of American Tower in the first quarter valued at about $164,300,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.8 %

Shares of AMT opened at $213.86 on Wednesday. The company’s 50-day moving average price is $227.63 and its 200 day moving average price is $209.79. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $99.89 billion, a P/E ratio of 90.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company 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 company posted $2.58 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts forecast that American Tower Co. will post 10.08 earnings per share for the current 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 paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.03%. American Tower’s payout ratio is presently 273.42%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Finally, BMO Capital Markets reduced 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. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

About American Tower

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.