Entropy Technologies LP Acquires New Holdings in American Tower Co. (NYSE:AMT)

Entropy Technologies LP acquired a new stake in shares of American Tower Co. (NYSE:AMT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,837 shares of the real estate investment trust’s stock, valued at approximately $4,846,000.

Other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in 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 valued at $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC purchased a new stake in American Tower in the second quarter valued at about $27,000. Northwest Investment Counselors LLC purchased a new stake in American Tower in the third quarter valued at about $30,000. Cultivar Capital Inc. purchased a new stake in American Tower in the second quarter valued at about $25,000. Finally, Hara Capital LLC purchased a new stake in American Tower in the third quarter valued at about $31,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $196.08 on Tuesday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market cap of $91.63 billion, a price-to-earnings ratio of 82.73, a PEG ratio of 1.34 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The business’s 50 day moving average price is $226.12 and its 200 day moving average price is $210.34.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The business’s quarterly revenue 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 firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. 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 3.30%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMT. Mizuho increased their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, 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. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.