Heard Capital LLC Has $183.80 Million Stock Position in American Tower Co. (NYSE:AMT)

Heard Capital LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 22.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 790,325 shares of the real estate investment trust’s stock after selling 223,368 shares during the period. American Tower accounts for about 10.3% of Heard Capital LLC’s portfolio, making the stock its 3rd largest holding. Heard Capital LLC owned 0.17% of American Tower worth $183,798,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. EverSource Wealth Advisors LLC increased its position in shares of American Tower by 24.1% during the first 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 during the last quarter. Mather Group LLC. boosted its holdings in American Tower by 11.7% in the second quarter. Mather Group LLC. now owns 6,524 shares of the real estate investment trust’s stock worth $1,289,000 after acquiring an additional 681 shares in the last quarter. Olistico Wealth LLC purchased a new position in shares of American Tower in the 2nd quarter worth $41,000. Kingswood Wealth Advisors LLC grew its stake in shares of American Tower by 46.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,628 shares of the real estate investment trust’s stock worth $1,483,000 after purchasing an additional 2,423 shares during the last quarter. Finally, Fiduciary Alliance LLC purchased a new position in American Tower during the 2nd quarter valued at about $246,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $207.33 on Tuesday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $96.88 billion, a price-to-earnings ratio of 87.48, a PEG ratio of 1.39 and a beta of 0.83. 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 business has a 50 day moving average of $215.95 and a 200 day moving average of $212.61.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (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 firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the company earned $2.58 earnings per share. The firm’s revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMT. Scotiabank dropped their price objective 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. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased 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. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price 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.