American Tower Co. (NYSE:AMT) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,417 shares of the real estate investment trust's stock after selling 19,634 shares during the period. Stifel Financial Corp owned about 0.07% of American Tower worth $81,506,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AMT. NBT Bank N A NY lifted its position in American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust's stock worth $329,000 after acquiring an additional 54 shares in the last quarter. CX Institutional raised its stake in shares of American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock valued at $450,000 after purchasing an additional 54 shares during the period. O Brien Greene & Co. Inc lifted its position in shares of American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock worth $481,000 after purchasing an additional 55 shares in the last quarter. Palumbo Wealth Management LLC boosted its stake in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock valued at $864,000 after purchasing an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC grew its holdings in American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust's stock valued at $242,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays decreased their price objective on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Wells Fargo & Company lowered shares of American Tower from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Finally, Royal Bank of Canada upped their price objective on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $235.54.

American Tower Stock Performance

NYSE AMT traded down $2.06 during trading hours on Friday, hitting $207.10. The company had a trading volume of 2,677,904 shares, compared to its average volume of 2,451,360. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $96.78 billion, a P/E ratio of 87.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business has a fifty day simple moving average of $213.32 and a 200-day simple moving average of $212.96.

American Tower (NYSE:AMT - Get Free Report) last released 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 firm had revenue of $2.52 billion during 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% on a year-over-year basis. During the same period last year, the business earned $2.58 EPS. Equities analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.13%. American Tower's dividend payout ratio is presently 273.42%.

American Tower 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.