Wilmington Savings Fund Society FSB Invests $1.78 Million in American Tower Co. (NYSE:AMT)

Wilmington Savings Fund Society FSB acquired a new position in American Tower Co. (NYSE:AMT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,669 shares of the real estate investment trust's stock, valued at approximately $1,784,000.

Other large investors have also recently modified their holdings of the company. Second Line Capital LLC raised its stake in shares of American Tower by 1.2% in the third quarter. Second Line Capital LLC now owns 11,856 shares of the real estate investment trust's stock worth $2,757,000 after purchasing an additional 138 shares during the last quarter. Rehmann Capital Advisory Group increased its stake in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after acquiring an additional 58 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of American Tower by 16.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 8,553 shares of the real estate investment trust's stock valued at $1,989,000 after buying an additional 1,177 shares during the period. Hobbs Group Advisors LLC lifted its holdings in American Tower by 51.0% in the third quarter. Hobbs Group Advisors LLC now owns 222 shares of the real estate investment trust's stock valued at $52,000 after acquiring an additional 75 shares during the period. Finally, Chiron Investment Management LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $8,815,000. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. boosted 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. Finally, BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Four equities research 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 company. Based on data from MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and an average price target of $235.85.

American Tower Trading Down 0.3 %

American Tower stock traded down $0.69 during trading on Friday, reaching $197.16. 1,995,540 shares of the company were exchanged, compared to its average volume of 2,322,496. 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 stock's 50 day simple moving average is $210.40 and its two-hundred day simple moving average is $213.24. The company has a market capitalization of $92.13 billion, a P/E ratio of 83.19, a PEG ratio of 1.33 and a beta of 0.83. 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 announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company'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. On average, equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, December 27th. 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.