Raelipskie Partnership purchased a new stake in American Tower Co. (NYSE:AMT - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund purchased 4,954 shares of the real estate investment trust's stock, valued at approximately $1,152,000.
Other hedge funds have also bought and sold shares of the company. Continuum Advisory LLC raised its holdings in shares of American Tower by 5.8% during the 3rd quarter. Continuum Advisory LLC now owns 6,966 shares of the real estate investment trust's stock worth $1,620,000 after acquiring an additional 380 shares in the last quarter. PYA Waltman Capital LLC raised its position in shares of American Tower by 5.0% during the 3rd quarter. PYA Waltman Capital LLC now owns 9,478 shares of the real estate investment trust's stock valued at $2,204,000 after buying an additional 449 shares in the last quarter. Drucker Wealth 3.0 LLC grew its position in American Tower by 5.8% in the third quarter. Drucker Wealth 3.0 LLC now owns 13,160 shares of the real estate investment trust's stock worth $3,061,000 after acquiring an additional 725 shares in the last quarter. Cape Cod Five Cents Savings Bank increased its stake in American Tower by 6.3% during the third quarter. Cape Cod Five Cents Savings Bank now owns 16,738 shares of the real estate investment trust's stock worth $3,893,000 after acquiring an additional 994 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of American Tower by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 141,328 shares of the real estate investment trust's stock valued at $32,867,000 after purchasing an additional 5,631 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Mizuho increased their price objective 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. Royal Bank of Canada upped their target price on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Four investment 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $235.54.
Get Our Latest Research Report on American Tower
American Tower Stock Up 0.9 %
American Tower stock traded up $1.94 during midday trading on Monday, hitting $209.04. 2,763,231 shares of the company's stock were exchanged, compared to its average volume of 2,323,737. American Tower Co. has a 12 month low of $170.46 and a 12 month 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 $97.68 billion, a PE ratio of 87.38, a P/E/G ratio of 1.38 and a beta of 0.83. The firm has a 50-day moving average of $213.32 and a two-hundred day moving average of $213.12.
American Tower (NYSE:AMT - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 earnings per share. As a group, analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.
American Tower Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. American Tower's dividend payout ratio is presently 273.42%.
American Tower Profile
(
Free Report)
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.
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