Claro Advisors LLC Has $278,000 Stake in American Tower Co. (NYSE:AMT)

Claro Advisors LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 10.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,518 shares of the real estate investment trust’s stock after selling 173 shares during the period. Claro Advisors LLC’s holdings in American Tower were worth $278,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC grew its position in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC acquired a new stake in American Tower in the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC acquired a new stake in American Tower in the 3rd quarter valued at $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AMT. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. BMO Capital Markets cut their price objective 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. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.67.

American Tower Trading Up 1.2 %

Shares of American Tower stock opened at $178.99 on Wednesday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock’s 50-day simple moving average is $193.58 and its 200 day simple moving average is $211.68. The stock has a market capitalization of $83.64 billion, a P/E ratio of 75.52, a P/E/G ratio of 1.31 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced 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 net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the firm posted $2.58 earnings per share. The company’s revenue was down 10.5% on a year-over-year basis. As a group, research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is currently 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.