O Shaughnessy Asset Management LLC Has $2.28 Million Stock Holdings in American Tower Co. (NYSE:AMT)
by Danessa Lincoln · The Markets Daily
O Shaughnessy Asset Management LLC lowered its stake in American Tower Co. (NYSE:AMT – Free Report) by 30.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,752 shares of the real estate investment trust’s stock after selling 5,140 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in American Tower were worth $2,279,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. MV Capital Management Inc. lifted its position in American Tower by 75.3% in the 2nd quarter. MV Capital Management Inc. now owns 135 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 58 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of American Tower in the 2nd quarter valued at about $27,000. Pinnacle Holdings LLC bought a new stake in shares of American Tower in the first quarter valued at about $29,000. Eagle Bay Advisors LLC acquired a new position in shares of American Tower during the second quarter worth about $30,000. Finally, Sittner & Nelson LLC grew its holdings in shares of American Tower by 151.7% during the first quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 91 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on AMT shares. Citigroup cut their price objective on shares of American Tower from $230.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. Wells Fargo & Company cut their price target on shares of American Tower from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Raymond James decreased their price objective on American Tower from $211.00 to $205.00 and set an “outperform” rating for the company in a report on Tuesday, August 22nd. StockNews.com assumed coverage on American Tower in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Morgan Stanley decreased their price target on American Tower from $212.00 to $169.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $228.60.
Read Our Latest Report on American Tower
American Tower Stock Performance
NYSE:AMT opened at $201.21 on Tuesday. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $93.80 billion, a PE ratio of 131.51, a P/E/G ratio of 1.70 and a beta of 0.63. The company has a 50 day simple moving average of $175.20 and a two-hundred day simple moving average of $182.83. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $235.57.
American Tower Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Wednesday, October 11th were paid a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, October 10th. This is a positive change from American Tower’s previous quarterly dividend of $1.57. This represents a $6.48 annualized dividend and a yield of 3.22%. American Tower’s payout ratio is 423.53%.
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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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