FSM Wealth Advisors LLC Has $1.02 Million Stake in American Tower Co. (NYSE:AMT)

FSM Wealth Advisors LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 3.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,390 shares of the real estate investment trust’s stock after selling 172 shares during the period. FSM Wealth Advisors LLC’s holdings in American Tower were worth $1,021,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Ameriprise Financial Inc. increased its holdings in American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after buying an additional 993,061 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after purchasing an additional 965,938 shares during the last quarter. M&G Plc bought a new position in shares of American Tower during the 1st quarter worth approximately $164,300,000. Finally, International Assets Investment Management LLC lifted its holdings in American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after acquiring an additional 775,379 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.4 %

Shares of AMT opened at $212.11 on Tuesday. The business’s 50-day moving average price is $227.87 and its 200-day moving average price is $209.49. 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 twelve month low of $170.46 and a twelve month high of $243.56. The stock has a market cap of $99.07 billion, a PE ratio of 89.50, a P/E/G ratio of 1.48 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. On average, equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMT shares. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Scotiabank dropped their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays raised their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $235.85.

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.