One Plus One Wealth Management LLC Boosts Holdings in American Tower Co. (NYSE:AMT)

One Plus One Wealth Management LLC grew its stake in American Tower Co. (NYSE:AMT) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,608 shares of the real estate investment trust’s stock after buying an additional 282 shares during the quarter. One Plus One Wealth Management LLC’s holdings in American Tower were worth $839,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AMT. Cultivar Capital Inc. acquired a new position in shares of American Tower during the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC grew its holdings in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower in the second quarter valued at about $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower in the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in American Tower during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.8 %

AMT opened at $213.86 on Wednesday. The firm has a market cap of $99.89 billion, a price-to-earnings ratio of 90.24, a price-to-earnings-growth ratio of 1.48 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business’s 50 day moving average is $227.63 and its two-hundred day moving average is $209.79. 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 (NYSE:AMT) last released its quarterly 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). 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 analysts’ expectations of $2.77 billion. During the same quarter last year, the company earned $2.58 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, research analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.03%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMT. BMO Capital Markets lowered their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Scotiabank decreased their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho increased 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. Finally, Royal Bank of Canada lifted their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $235.85.

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.