Truvestments Capital LLC Has $230,000 Holdings in American Tower Co. (NYSE:AMT)

Truvestments Capital LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 990 shares of the real estate investment trust’s stock after selling 61 shares during the period. Truvestments Capital LLC’s holdings in American Tower were worth $230,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC increased its stake in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of American Tower during the 2nd quarter valued at approximately $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower during the 3rd quarter worth approximately $30,000. Cultivar Capital Inc. bought a new position in American Tower in the 2nd quarter valued at approximately $25,000. Finally, Hara Capital LLC bought a new position in American Tower in the 3rd quarter valued at approximately $31,000. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. 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 report on Thursday, August 15th. TD Cowen boosted their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Scotiabank reduced their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Stock Performance

NYSE:AMT opened at $207.60 on Tuesday. The company has a market capitalization of $97.01 billion, a PE ratio of 87.59, a P/E/G ratio of 1.36 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a 50 day simple moving average of $218.10 and a two-hundred day simple moving average of $211.99.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. Research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

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.