GAMMA Investing LLC Has $1.32 Million Holdings in American Tower Co. (NYSE:AMT)

GAMMA Investing LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,173 shares of the real estate investment trust’s stock after buying an additional 302 shares during the quarter. GAMMA Investing LLC’s holdings in American Tower were worth $1,316,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Fortitude Family Office LLC boosted its stake in shares of 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 in the last quarter. Fairscale Capital LLC acquired a new position in American Tower in the second quarter valued at about $27,000. Northwest Investment Counselors LLC bought a new stake in American Tower during the third quarter worth about $30,000. Hara Capital LLC bought a new position in shares of American Tower in the third quarter valued at approximately $31,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.8 %

NYSE:AMT opened at $182.56 on Friday. The stock’s fifty day simple moving average is $199.48 and its 200-day simple moving average is $212.29. The firm has a market capitalization of $85.31 billion, a P/E ratio of 77.03, a P/E/G ratio of 1.31 and a beta of 0.83. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

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

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.55%. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMT. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays decreased their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $235.08.

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.