First Heartland Consultants Inc. Has $394,000 Stock Holdings in American Tower Co. (NYSE:AMT)

First Heartland Consultants Inc. trimmed its holdings in American Tower Co. (NYSE:AMT - Free Report) by 62.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,694 shares of the real estate investment trust's stock after selling 2,798 shares during the period. First Heartland Consultants Inc.'s holdings in American Tower were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AMT. Cozad Asset Management Inc. raised its stake in shares of 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 valued at $291,000 after purchasing an additional 103 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in American Tower by 19.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 550,026 shares of the real estate investment trust's stock valued at $108,680,000 after acquiring an additional 89,653 shares in the last quarter. D Orazio & Associates Inc. acquired a new position in American Tower during the 1st quarter worth approximately $202,000. Condor Capital Management grew its stake in shares of American Tower by 10.5% during the 1st quarter. Condor Capital Management now owns 16,975 shares of the real estate investment trust's stock worth $3,354,000 after acquiring an additional 1,616 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in shares of American Tower by 13.8% in the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust's stock valued at $7,613,000 after purchasing an additional 4,660 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.7 %

NYSE AMT traded up $1.44 on Wednesday, hitting $195.16. The company's stock had a trading volume of 2,251,627 shares, compared to its average volume of 2,322,183. The firm has a market cap of $91.20 billion, a PE ratio of 82.35, a PEG ratio of 1.29 and a beta of 0.84. The company's 50-day moving average is $224.82 and its 200 day moving average is $210.66. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. 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 earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the business earned $2.58 earnings per share. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.32%. The ex-dividend date was Wednesday, October 9th. American Tower's payout ratio is presently 273.42%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Mizuho upped their price objective 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. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $235.85.

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.