2,659 Shares in American Tower Co. (NYSE:AMT) Bought by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL acquired a new position in American Tower Co. (NYSE:AMT - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 2,659 shares of the real estate investment trust's stock, valued at approximately $618,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Fortitude Family Office LLC boosted its position 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 stake in American Tower in the second quarter valued at $27,000. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the third quarter worth about $30,000. Cultivar Capital Inc. bought a new position in American Tower during the 2nd quarter worth approximately $25,000. Finally, Hara Capital LLC acquired a new position in American Tower in the third quarter worth $31,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on AMT shares. TD Cowen upped their price objective on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lifted 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. Barclays upped their price target on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Four 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's stock. According to data from MarketBeat.com, American Tower currently has an average rating of "Moderate Buy" and an average price target of $235.85.

American Tower Price Performance

NYSE AMT traded up $1.68 during midday trading on Friday, hitting $196.45. The company had a trading volume of 2,587,387 shares, compared to its average volume of 2,698,820. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $91.80 billion, a PE ratio of 82.89, a P/E/G ratio of 1.31 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50-day moving average price of $222.51 and a 200-day moving average price of $210.86.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is currently 273.42%.

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.