Financial Counselors Inc. Has $31.01 Million Stake in American Tower Co. (NYSE:AMT)

Financial Counselors Inc. lifted its stake in American Tower Co. (NYSE:AMT) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,327 shares of the real estate investment trust’s stock after buying an additional 968 shares during the period. Financial Counselors Inc.’s holdings in American Tower were worth $31,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in shares of American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares in the last quarter. LBP AM SA lifted its position in American Tower by 55.8% during the first quarter. LBP AM SA now owns 4,596 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 1,646 shares during the period. Virtu Financial LLC acquired a new stake in American Tower during the first quarter worth about $2,169,000. LRI Investments LLC bought a new position in American Tower in the 1st quarter valued at about $99,000. Finally, Atria Investments Inc raised its position in shares of American Tower by 8.5% in the 1st quarter. Atria Investments Inc now owns 40,074 shares of the real estate investment trust’s stock valued at $7,918,000 after buying an additional 3,132 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on AMT. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. TD Cowen raised their target price on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Mizuho lifted 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 downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Four research 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 stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Trading Up 0.6 %

Shares of AMT stock opened at $209.31 on Thursday. The company has a market cap of $97.81 billion, a P/E ratio of 88.32, a PEG ratio of 1.38 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 stock has a 50 day simple moving average of $216.94 and a two-hundred day simple moving average of $212.14. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates 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 was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.58 EPS. Research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. American Tower’s dividend payout ratio (DPR) is presently 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.