Mendel Capital Management LLC Sells 86 Shares of American Tower Co. (NYSE:AMT)

Mendel Capital Management LLC trimmed its holdings in American Tower Co. (NYSE:AMT) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,527 shares of the real estate investment trust’s stock after selling 86 shares during the quarter. Mendel Capital Management LLC’s holdings in American Tower were worth $820,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC increased its stake in 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 worth $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC bought a new position in shares of American Tower in the second quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the third quarter worth $30,000. Cultivar Capital Inc. bought a new stake in American Tower during the 2nd quarter valued at $25,000. Finally, Hara Capital LLC purchased a new stake in American Tower during the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.9 %

Shares of NYSE AMT opened at $196.45 on Monday. The firm’s 50 day moving average price is $222.51 and its 200-day moving average price is $211.10. 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 cap of $91.80 billion, a PE ratio of 82.89, a P/E/G ratio of 1.31 and a beta of 0.84.

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

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.30%. American Tower’s payout ratio is 273.42%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Company 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.