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Soltis Investment Advisors LLC Has $8.47 Million Stock Holdings in American Tower Co. (NYSE:AMT)

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Soltis Investment Advisors LLC trimmed its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 15.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,406 shares of the real estate investment trust's stock after selling 6,696 shares during the quarter. American Tower accounts for 0.8% of Soltis Investment Advisors LLC's portfolio, making the stock its 24th largest holding. Soltis Investment Advisors LLC's holdings in American Tower were worth $8,466,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. FMR LLC boosted its position in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock valued at $2,474,934,000 after buying an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock valued at $1,243,333,000 after acquiring an additional 1,885,421 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock worth $279,890,000 after acquiring an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC grew its position in American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust's stock worth $231,941,000 after acquiring an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust's stock valued at $1,811,330,000 after purchasing an additional 775,379 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Royal Bank of Canada increased their price objective 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. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. Finally, BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Four equities research 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 data from MarketBeat, American Tower has a consensus rating of "Moderate Buy" and a consensus target price of $235.54.

Get Our Latest Research Report on AMT

American Tower Trading Up 0.0 %

Shares of NYSE:AMT traded up $0.09 during midday trading on Wednesday, hitting $199.62. The company had a trading volume of 2,356,801 shares, compared to its average volume of 2,325,481. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a fifty day simple moving average of $212.20 and a 200 day simple moving average of $213.37. The stock has a market cap of $93.28 billion, a price-to-earnings ratio of 84.31, a PEG ratio of 1.38 and a beta of 0.83.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 return on equity of 22.01% and a net margin of 10.05%. American Tower's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. On average, analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, December 27th. American Tower's payout ratio is presently 273.42%.

About American Tower

(Free Report)

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.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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