Brookstone Capital Management Acquires 1,995 Shares of American Tower Co. (NYSE:AMT)

Brookstone Capital Management raised its holdings in shares of American Tower Co. (NYSE:AMT) by 29.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,879 shares of the real estate investment trust’s stock after purchasing an additional 1,995 shares during the period. Brookstone Capital Management’s holdings in American Tower were worth $1,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC raised its position in 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 purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of American Tower in the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter worth approximately $30,000. Hara Capital LLC bought a new position in shares of American Tower in the 3rd quarter worth approximately $31,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth approximately $34,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays decreased their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group reduced their price objective 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. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower Stock Up 0.8 %

American Tower stock opened at $180.31 on Thursday. The business has a fifty day moving average of $193.58 and a two-hundred day moving average of $211.68. 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 has a market cap of $84.26 billion, a P/E ratio of 76.08, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.59%. American Tower’s dividend payout ratio (DPR) is 273.42%.

About American Tower

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.