Farther Finance Advisors LLC Has $1.03 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Farther Finance Advisors LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 14.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,425 shares of the real estate investment trust’s stock after selling 750 shares during the quarter. Farther Finance Advisors LLC’s holdings in American Tower were worth $1,029,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMT. NBT Bank N A NY lifted its stake in American Tower by 3.3% during the second 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 last quarter. CX Institutional lifted its position in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 54 shares during the last quarter. O Brien Greene & Co. Inc boosted its stake in American Tower by 2.3% in 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 in the last quarter. CFO4Life Group LLC grew its position in American Tower by 5.4% in the first quarter. CFO4Life Group LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 57 shares during the last quarter. Finally, Palumbo Wealth Management LLC raised its stake in American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Finally, StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a 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. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $235.85.

American Tower Trading Up 0.4 %

NYSE:AMT opened at $212.11 on Tuesday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm’s fifty day moving average is $227.87 and its 200-day moving average is $209.49. The firm has a market cap of $99.07 billion, a P/E ratio of 89.50, a P/E/G ratio of 1.49 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.81 and a current ratio of 0.69.

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 analysts’ consensus estimates of $2.45 by ($1.56). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 earnings per share. Equities analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 dividend yield of 3.06%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

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.