Curi RMB Capital LLC Trims Stock Holdings in American Tower Co. (NYSE:AMT)

Curi RMB Capital LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,726 shares of the real estate investment trust’s stock after selling 3,046 shares during the quarter. Curi RMB Capital LLC’s holdings in American Tower were worth $21,564,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kingsview Wealth Management LLC grew its holdings in American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock worth $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in American Tower by 24.5% in the first quarter. Orion Portfolio Solutions LLC now owns 17,199 shares of the real estate investment trust’s stock valued at $3,398,000 after buying an additional 3,381 shares during the last quarter. Motco lifted its holdings in American Tower by 4.7% during the 1st quarter. Motco now owns 1,801 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 81 shares during the last quarter. Sentry Investment Management LLC grew its position in shares of American Tower by 11.3% in the 1st quarter. Sentry Investment Management LLC now owns 2,719 shares of the real estate investment trust’s stock worth $537,000 after acquiring an additional 276 shares in the last quarter. Finally, CCLA Investment Management increased its holdings in shares of American Tower by 0.4% in the 1st quarter. CCLA Investment Management now owns 406,080 shares of the real estate investment trust’s stock valued at $80,273,000 after acquiring an additional 1,765 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 0.7 %

AMT stock opened at $195.16 on Thursday. The company has a 50-day moving average of $224.08 and a two-hundred day moving average of $210.55. The stock has a market capitalization of $91.20 billion, a price-to-earnings ratio of 82.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The business had revenue of $2.52 billion during 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 company’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. As a group, equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.32%. American Tower’s payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research reports. Scotiabank decreased their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Mizuho increased their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Four investment 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. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price 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.