Diversify Advisory Services LLC Has $407,000 Stock Position in American Tower Co. (NYSE:AMT)

Diversify Advisory Services LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,840 shares of the real estate investment trust’s stock after selling 188 shares during the quarter. Diversify Advisory Services LLC’s holdings in American Tower were worth $407,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of American Tower in the 2nd quarter valued at approximately $27,000. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter valued at approximately $30,000. Cultivar Capital Inc. bought a new position in shares of American Tower in the 2nd quarter valued at approximately $25,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of American Tower in the 2nd quarter valued at approximately $29,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.0 %

Shares of AMT stock opened at $213.54 on Friday. The company’s fifty day simple moving average is $228.45 and its two-hundred day simple moving average is $208.46. The company has a debt-to-equity ratio of 3.42, a current ratio of 0.81 and a quick ratio of 0.81. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $99.74 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 1.09 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 23.06% and a net margin of 21.95%. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the business posted $2.58 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.03%. American Tower’s dividend payout ratio (DPR) is currently 121.80%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays boosted 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. BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday. Mizuho upped their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.85.

American Tower 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.