American Tower Co. (NYSE:AMT) Shares Sold by Syntax Research Inc.

Syntax Research Inc. lessened its stake in shares of American Tower Co. (NYSE:AMT) by 18.7% in the third quarter, Holdings Channel.com reports. The fund owned 13,605 shares of the real estate investment trust’s stock after selling 3,138 shares during the quarter. American Tower comprises about 2.1% of Syntax Research Inc.’s holdings, making the stock its 19th biggest position. Syntax Research Inc.’s holdings in American Tower were worth $3,164,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Atria Wealth Solutions Inc. boosted its position in shares of American Tower by 12.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 21,389 shares of the real estate investment trust’s stock valued at $4,167,000 after purchasing an additional 2,319 shares during the period. Vicus Capital purchased a new stake in American Tower during the second quarter valued at about $257,000. Busey Bank boosted its holdings in shares of American Tower by 8.6% in the second quarter. Busey Bank now owns 1,203 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 95 shares during the period. American National Bank increased its position in shares of American Tower by 18.6% in the second quarter. American National Bank now owns 849 shares of the real estate investment trust’s stock worth $165,000 after acquiring an additional 133 shares in the last quarter. Finally, Koa Wealth Management LLC raised its holdings in shares of American Tower by 24.7% during the second quarter. Koa Wealth Management LLC now owns 16,801 shares of the real estate investment trust’s stock valued at $3,266,000 after acquiring an additional 3,327 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of AMT opened at $193.17 on Wednesday. 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 firm has a market cap of $90.27 billion, a PE ratio of 81.51, a PEG ratio of 1.31 and a beta of 0.83. The firm’s 50 day moving average price is $209.18 and its 200 day moving average price is $213.64. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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 analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for 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 firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 EPS. As a group, research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.35%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMT. JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Barclays decreased their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Finally, The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.08.

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.