American Tower Co. (NYSE:AMT) Shares Purchased by Nicola Wealth Management LTD.

Nicola Wealth Management LTD. lifted its holdings in American Tower Co. (NYSE:AMT) by 20.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,281 shares of the real estate investment trust’s stock after buying an additional 1,400 shares during the quarter. Nicola Wealth Management LTD.’s holdings in American Tower were worth $1,926,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

AMT has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada increased their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Barclays raised their price objective on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, TD Cowen upped their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower Stock Performance

NYSE AMT traded up $0.23 during trading hours on Thursday, hitting $195.39. The company had a trading volume of 340,866 shares, compared to its average volume of 2,312,840. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $91.30 billion, a P/E ratio of 82.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business has a fifty day simple moving average of $224.08 and a 200-day simple moving average of $210.55.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

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.