American Tower Co. (NYSE:AMT) Stock Holdings Lowered by Bath Savings Trust Co

Bath Savings Trust Co reduced its holdings in American Tower Co. (NYSE:AMT) by 0.1% during the 4th quarter, Holdings Channel reports. The fund owned 64,376 shares of the real estate investment trust’s stock after selling 65 shares during the quarter. American Tower comprises 1.2% of Bath Savings Trust Co’s portfolio, making the stock its 24th largest holding. Bath Savings Trust Co’s holdings in American Tower were worth $11,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Candriam S.C.A. raised its holdings in American Tower by 22.9% during the second quarter. Candriam S.C.A. now owns 43,912 shares of the real estate investment trust’s stock worth $8,535,000 after purchasing an additional 8,186 shares in the last quarter. Norden Group LLC boosted its stake in American Tower by 24.4% during the second quarter. Norden Group LLC now owns 2,916 shares of the real estate investment trust’s stock valued at $567,000 after buying an additional 572 shares in the last quarter. Asset Dedication LLC grew its holdings in American Tower by 23.6% during the second quarter. Asset Dedication LLC now owns 964 shares of the real estate investment trust’s stock worth $187,000 after acquiring an additional 184 shares during the period. Acadian Asset Management LLC raised its position in American Tower by 1,791.9% in the second quarter. Acadian Asset Management LLC now owns 12,316 shares of the real estate investment trust’s stock worth $2,392,000 after acquiring an additional 11,665 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in American Tower by 8.2% in the 2nd quarter. Caprock Group LLC now owns 7,527 shares of the real estate investment trust’s stock valued at $1,475,000 after acquiring an additional 569 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays dropped their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. 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. JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.08.

American Tower Stock Down 1.4 %

Shares of NYSE AMT traded down $2.54 during mid-day trading on Tuesday, reaching $177.72. The company had a trading volume of 917,760 shares, compared to its average volume of 2,022,125. 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 company has a market capitalization of $83.05 billion, a price-to-earnings ratio of 74.99, a PEG ratio of 1.31 and a beta of 0.84. The stock has a fifty day moving average of $197.83 and a two-hundred day moving average of $212.40. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

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). 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 during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The company 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, December 27th. 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.