Hantz Financial Services Inc. Sells 959 Shares of American Tower Co. (NYSE:AMT)

Hantz Financial Services Inc. lowered its position in shares of American Tower Co. (NYSE:AMT) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 29,029 shares of the real estate investment trust’s stock after selling 959 shares during the quarter. Hantz Financial Services Inc.’s holdings in American Tower were worth $6,751,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after buying an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after purchasing an additional 243,061 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of American Tower by 5.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,111,335 shares of the real estate investment trust’s stock worth $956,132,000 after purchasing an additional 224,261 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of American Tower by 8.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock worth $720,206,000 after purchasing an additional 302,676 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $209.00 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. 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 $97.66 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.39 and a beta of 0.84. The company has a fifty day moving average of $215.95 and a 200-day moving average of $212.29.

American Tower (NYSE:AMT) last posted 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 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal 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 issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMT shares. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Barclays reduced their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.54.

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.