Farther Finance Advisors LLC Sells 750 Shares of American Tower Co. (NYSE:AMT)

Farther Finance Advisors LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 14.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,425 shares of the real estate investment trust’s stock after selling 750 shares during the period. Farther Finance Advisors LLC’s holdings in American Tower were worth $1,029,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Ameriprise Financial Inc. grew its position in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after buying an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC increased its stake in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after purchasing an additional 993,061 shares in the last quarter. Vanguard Group Inc. raised its holdings in American Tower by 1.6% in the first quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock worth $12,248,812,000 after purchasing an additional 965,938 shares during the period. M&G Plc bought a new position in shares of American Tower during the first quarter worth $164,300,000. Finally, International Assets Investment Management LLC grew its holdings in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 0.4 %

NYSE:AMT opened at $212.11 on Tuesday. 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 $99.07 billion, a price-to-earnings ratio of 89.50, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. The company has a quick ratio of 0.81, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s 50 day moving average price is $227.87 and its two-hundred day moving average price is $209.49.

American Tower (NYSE:AMT) last posted 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the company posted $2.58 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. Equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays raised their price objective on American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Scotiabank dropped their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets lowered their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

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.