Victory Capital Management Inc. Has $38.74 Million Holdings in American Tower Co. (NYSE:AMT)

Victory Capital Management Inc. trimmed its holdings in American Tower Co. (NYSE:AMT - Free Report) by 7.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 166,600 shares of the real estate investment trust's stock after selling 12,564 shares during the period. Victory Capital Management Inc.'s holdings in American Tower were worth $38,744,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Aptus Capital Advisors LLC raised its stake in American Tower by 9.4% during the third quarter. Aptus Capital Advisors LLC now owns 49,579 shares of the real estate investment trust's stock valued at $11,530,000 after buying an additional 4,247 shares in the last quarter. Cumberland Partners Ltd acquired a new stake in shares of American Tower during the 3rd quarter valued at approximately $3,007,000. Prime Capital Investment Advisors LLC lifted its stake in American Tower by 12.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 4,169 shares of the real estate investment trust's stock worth $970,000 after purchasing an additional 465 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in American Tower by 268.2% in the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust's stock worth $1,038,000 after purchasing an additional 3,251 shares during the period. Finally, Patron Partners LLC increased its stake in American Tower by 4.0% during the third quarter. Patron Partners LLC now owns 3,372 shares of the real estate investment trust's stock valued at $784,000 after purchasing an additional 131 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of AMT traded up $1.68 during midday trading on Friday, reaching $196.45. The stock had a trading volume of 2,587,387 shares, compared to its average volume of 2,698,820. 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 $91.80 billion, a P/E ratio of 82.89, a P/E/G ratio of 1.31 and a beta of 0.84. The firm's 50 day moving average price is $222.51 and its 200-day moving average price is $210.86. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the company posted $2.58 earnings per share. American Tower's revenue was down 10.5% compared to the same quarter last year. On average, analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.30%. American Tower's dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AMT shares. Mizuho raised their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Scotiabank lowered their target price 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. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Finally, TD Cowen increased their target price on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. Four 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.