Mesirow Financial Investment Management Inc. Acquires 568 Shares of American Tower Co. (NYSE:AMT)

Mesirow Financial Investment Management Inc. raised its holdings in American Tower Co. (NYSE:AMT) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,072 shares of the real estate investment trust’s stock after acquiring an additional 568 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in American Tower were worth $6,296,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMT. Cultivar Capital Inc. bought a new position in American Tower during the 2nd quarter worth $25,000. Fortitude Family Office LLC raised its position 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 acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the second quarter worth approximately $27,000. Hobbs Group Advisors LLC bought a new stake in American Tower in the second quarter valued at approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in American Tower during the 3rd quarter valued at approximately $30,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 2.0 %

American Tower stock opened at $201.80 on Friday. The firm has a market capitalization of $94.30 billion, a price-to-earnings ratio of 85.15, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The firm’s fifty day moving average price is $226.12 and its two-hundred day moving average price is $209.83. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company 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%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 EPS. On average, equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

Analysts Set New Price Targets

AMT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. TD Cowen boosted their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Scotiabank cut their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.