Jacobs & Co. CA Buys 11,799 Shares of American Tower Co. (NYSE:AMT)

Jacobs & Co. CA lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 50.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,044 shares of the real estate investment trust's stock after purchasing an additional 11,799 shares during the period. Jacobs & Co. CA's holdings in American Tower were worth $6,427,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Fortitude Family Office LLC increased its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of American Tower in the second quarter valued at about $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter worth about $30,000. Hara Capital LLC bought a new stake in shares of American Tower during the 3rd quarter worth about $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in American Tower in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of a number of research analyst reports. Scotiabank reduced their price objective on American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday. Wells Fargo & Company downgraded shares of American Tower from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets dropped their price objective 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. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $233.67.

American Tower Price Performance

Shares of AMT traded down $5.65 during midday trading on Friday, hitting $173.54. The company's stock had a trading volume of 3,539,231 shares, compared to its average volume of 2,484,386. 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 one year low of $170.46 and a one year high of $243.56. The stock has a market capitalization of $81.09 billion, a price-to-earnings ratio of 73.22, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. The company's fifty day simple moving average is $194.98 and its two-hundred day simple moving average is $211.65.

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). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 EPS. As a group, equities analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.73%. American Tower's dividend payout ratio (DPR) is presently 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.