Atria Investments Inc Increases Stock Holdings in American Tower Co. (NYSE:AMT)

Atria Investments Inc increased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,730 shares of the real estate investment trust's stock after purchasing an additional 3,934 shares during the quarter. Atria Investments Inc's holdings in American Tower were worth $10,402,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Essex Savings Bank lifted its stake in American Tower by 18.9% in the third quarter. Essex Savings Bank now owns 1,312 shares of the real estate investment trust's stock valued at $305,000 after acquiring an additional 209 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of American Tower by 3.1% in the third quarter. Lindbrook Capital LLC now owns 3,936 shares of the real estate investment trust's stock valued at $915,000 after purchasing an additional 119 shares during the period. Assetmark Inc. raised its position in shares of American Tower by 227.0% in the third quarter. Assetmark Inc. now owns 2,364 shares of the real estate investment trust's stock valued at $550,000 after purchasing an additional 1,641 shares during the period. CWA Asset Management Group LLC bought a new position in shares of American Tower in the third quarter valued at about $5,559,000. Finally, Equitable Trust Co. raised its position in shares of American Tower by 212.4% in the third quarter. Equitable Trust Co. now owns 12,045 shares of the real estate investment trust's stock valued at $2,801,000 after purchasing an additional 8,189 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AMT shares. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Mizuho raised their price target on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Wells Fargo & Company downgraded shares of American Tower from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, Scotiabank reduced their price target on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.85.

American Tower Stock Performance

NYSE AMT traded down $5.72 during trading on Monday, hitting $196.08. 2,678,968 shares of the company's stock traded hands, compared to its average volume of 2,319,047. The stock has a market capitalization of $91.63 billion, a price-to-earnings ratio of 85.15, a PEG ratio of 1.34 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month 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 business has a 50 day moving average of $226.12 and a 200-day moving average of $210.34.

American Tower (NYSE:AMT - Get Free Report) last announced 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%. The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. As a group, equities research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is presently 273.42%.

American Tower Company 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.