Aviso Wealth Management Decreases Stake in American Tower Co. (NYSE:AMT)

Aviso Wealth Management lowered its position in American Tower Co. (NYSE:AMT) by 25.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,125 shares of the real estate investment trust’s stock after selling 390 shares during the quarter. Aviso Wealth Management’s holdings in American Tower were worth $262,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cultivar Capital Inc. bought a new position in American Tower in the 2nd quarter worth about $25,000. Fortitude Family Office LLC boosted its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new position in American Tower in the 2nd quarter worth about $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of 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.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMT shares. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Barclays boosted their target price on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted 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. Finally, BMO Capital Markets dropped 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. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Trading Up 0.9 %

NYSE AMT opened at $196.45 on Monday. 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 firm has a market capitalization of $91.80 billion, a PE ratio of 82.89, a P/E/G ratio of 1.31 and a beta of 0.84. The stock’s 50 day moving average is $222.51 and its 200 day moving average is $211.10.

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 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 for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. Research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

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.