Landscape Capital Management L.L.C. Makes New Investment in American Tower Co. (NYSE:AMT)

Landscape Capital Management L.L.C. purchased 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 SEC. The firm purchased 1,565 shares of the real estate investment trust’s stock, valued at approximately $364,000.

A number of other large investors have also recently made changes to their positions in AMT. NBT Bank N A NY grew its position in American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock worth $329,000 after purchasing an additional 54 shares during the period. CX Institutional boosted its position in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the last quarter. O Brien Greene & Co. Inc grew its position in American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after buying an additional 55 shares during the period. Palumbo Wealth Management LLC grew its position in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after acquiring an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC increased its position in American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 58 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMT has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, TD Cowen increased their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Four 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Stock Up 0.7 %

Shares of American Tower stock opened at $204.31 on Monday. The company has a market cap of $95.47 billion, a P/E ratio of 86.21, a PEG ratio of 1.36 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s 50 day moving average price is $218.75 and its 200-day moving average price is $211.84.

American Tower (NYSE:AMT) last issued 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 return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the prior year, the business posted $2.58 EPS. American Tower’s revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio 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.