CreativeOne Wealth LLC Purchases 633 Shares of American Tower Co. (NYSE:AMT)

CreativeOne Wealth LLC increased its holdings in shares of American Tower Co. (NYSE:AMT) by 33.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,547 shares of the real estate investment trust’s stock after buying an additional 633 shares during the quarter. CreativeOne Wealth LLC’s holdings in American Tower were worth $592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in American Tower by 344.2% in the first quarter. Cetera Investment Advisers now owns 111,449 shares of the real estate investment trust’s stock valued at $22,021,000 after buying an additional 86,359 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in American Tower by 24.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 907 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 176 shares in the last quarter. GAMMA Investing LLC boosted its stake in American Tower by 52.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,114 shares of the real estate investment trust’s stock worth $994,000 after purchasing an additional 1,759 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in American Tower by 1.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 18,645 shares of the real estate investment trust’s stock worth $3,624,000 after purchasing an additional 290 shares in the last quarter. Finally, Institutional & Family Asset Management LLC raised its stake in shares of American Tower by 110.6% in the 2nd quarter. Institutional & Family Asset Management LLC now owns 198 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 104 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Price Performance

American Tower stock opened at $209.00 on Friday. The firm has a market cap of $97.66 billion, a PE ratio of 88.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s fifty day moving average price is $215.95 and its two-hundred day moving average price is $212.46. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower (NYSE:AMT) last posted 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). The company had revenue of $2.52 billion during 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 firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. As a group, research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMT shares. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Mizuho increased their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

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.