American Assets Capital Advisers LLC Has $24.19 Million Stock Position in American Tower Co. (NYSE:AMT)

American Assets Capital Advisers LLC reduced its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,000 shares of the real estate investment trust's stock after selling 5,823 shares during the period. American Tower comprises approximately 7.4% of American Assets Capital Advisers LLC's portfolio, making the stock its 3rd biggest holding. American Assets Capital Advisers LLC's holdings in American Tower were worth $24,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Sheets Smith Wealth Management grew its position in American Tower by 81.2% during the 1st quarter. Sheets Smith Wealth Management now owns 2,798 shares of the real estate investment trust's stock worth $553,000 after acquiring an additional 1,254 shares during the last quarter. Cozad Asset Management Inc. grew its holdings in American Tower by 7.5% in the 1st quarter. Cozad Asset Management Inc. now owns 1,472 shares of the real estate investment trust's stock worth $291,000 after acquiring an additional 103 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in American Tower by 16.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,012,762 shares of the real estate investment trust's stock worth $200,111,000 after acquiring an additional 144,875 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in American Tower by 4.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 511,608 shares of the real estate investment trust's stock worth $104,542,000 after acquiring an additional 22,178 shares during the last quarter. Finally, Tradewinds LLC. bought a new stake in American Tower in the 1st quarter worth $374,000. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho lifted their price target on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, American Tower has an average rating of "Moderate Buy" and a consensus price target of $235.85.

American Tower Stock Down 1.2 %

AMT stock traded down $2.36 on Tuesday, reaching $193.72. 2,953,326 shares of the company traded hands, compared to its average volume of 2,322,029. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. 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 company has a market cap of $90.52 billion, a P/E ratio of 81.22, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The firm has a fifty day simple moving average of $225.56 and a 200-day simple moving average of $210.50.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is currently 273.42%.

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.