Savvy Advisors Inc. Purchases 3,251 Shares of American Tower Co. (NYSE:AMT)

Savvy Advisors Inc. lifted its stake in American Tower Co. (NYSE:AMT - Free Report) by 268.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,463 shares of the real estate investment trust's stock after acquiring an additional 3,251 shares during the period. Savvy Advisors Inc.'s holdings in American Tower were worth $1,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. purchased a new position in American Tower during the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC grew its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in American Tower in the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower in the second quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the third quarter worth about $30,000. 92.69% of the stock is owned by institutional investors.

American Tower Stock Down 1.2 %

AMT traded down $2.36 during mid-day trading on Tuesday, reaching $193.72. 2,953,326 shares of the stock were exchanged, compared to its average volume of 2,322,029. The company has a 50 day moving average price of $225.56 and a two-hundred day moving average price of $210.50. The stock has a market capitalization of $90.52 billion, a PE ratio of 81.22, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company earned $2.58 EPS. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed 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 dividend yield of 3.35%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Royal Bank of Canada lifted their price target on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, Scotiabank cut their price objective on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.85.

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.