Consolidated Investment Group LLC Decreases Stock Holdings in American Tower Co. (NYSE:AMT)

Consolidated Investment Group LLC decreased its position in American Tower Co. (NYSE:AMT - Free Report) by 32.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,900 shares of the real estate investment trust's stock after selling 4,800 shares during the quarter. Consolidated Investment Group LLC's holdings in American Tower were worth $2,302,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust's stock worth $12,248,812,000 after purchasing an additional 965,938 shares during the period. Ameriprise Financial Inc. raised its stake in 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 worth $1,243,333,000 after buying an additional 1,885,421 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of American Tower by 8.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust's stock valued at $720,206,000 after buying an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in American Tower by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust's stock worth $643,571,000 after purchasing an additional 464,429 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of American Tower by 0.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust's stock worth $315,868,000 after purchasing an additional 6,193 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMT shares. Barclays lifted their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Scotiabank decreased 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. Wells Fargo & Company cut shares of American Tower from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Royal Bank of Canada raised their price target on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Four research 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $235.85.

American Tower Price Performance

American Tower stock traded down $3.93 during mid-day trading on Monday, reaching $197.87. The company had a trading volume of 1,129,731 shares, compared to its average volume of 2,311,940. The stock's 50-day simple moving average is $226.12 and its 200-day simple moving average is $210.34. 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 capitalization of $92.46 billion, a P/E ratio of 85.15, a P/E/G ratio of 1.34 and a beta of 0.84. 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 issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's revenue for the quarter was down 10.5% on a year-over-year basis. During the same period last year, the business earned $2.58 earnings per share. On average, equities analysts predict that American Tower Co. will post 10.08 EPS for the current 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. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.27%. American Tower's dividend payout ratio 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.