First Western Trust Bank Sells 2,757 Shares of American Tower Co. (NYSE:AMT)

First Western Trust Bank lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 12.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,579 shares of the real estate investment trust's stock after selling 2,757 shares during the period. First Western Trust Bank's holdings in American Tower were worth $4,553,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. bought a new position in American Tower in the 2nd quarter valued at $25,000. Fortitude Family Office LLC increased its holdings 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 worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new stake in American Tower in the second quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the second quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 3rd quarter worth approximately $30,000. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on AMT. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the stock an "outperform" rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Barclays reduced their target price on American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. 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 stock. According to MarketBeat.com, American Tower currently has a consensus rating of "Moderate Buy" and an average target price of $235.54.

American Tower Stock Up 1.2 %

Shares of AMT stock traded up $2.39 during midday trading on Monday, reaching $198.84. 2,146,208 shares of the stock were exchanged, compared to its average volume of 2,322,407. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $92.92 billion, a PE ratio of 83.34, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company's 50 day moving average is $222.51 and its two-hundred day moving average is $211.10. 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 earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.77 billion. The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.58 earnings per share. On average, equities research 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 was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio is 273.42%.

About American Tower

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.