Centaurus Financial Inc. Has $282,000 Position in American Tower Co. (NYSE:AMT)

Centaurus Financial Inc. raised its position in shares of American Tower Co. (NYSE:AMT) by 14.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,215 shares of the real estate investment trust’s stock after acquiring an additional 156 shares during the period. Centaurus Financial Inc.’s holdings in American Tower were worth $282,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new position in shares of American Tower in the second quarter worth $25,000. Fortitude Family Office LLC increased its stake in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the second quarter worth $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the second quarter worth $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the third quarter worth $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Up 0.6 %

AMT stock opened at $209.31 on Thursday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a 50-day moving average of $216.94 and a two-hundred day moving average of $212.14. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market capitalization of $97.81 billion, a price-to-earnings ratio of 88.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several analyst reports. Mizuho increased their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Royal Bank of Canada increased their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

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.