Aptus Capital Advisors LLC raised its stake in American Tower Co. (NYSE:AMT - Free Report) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,579 shares of the real estate investment trust's stock after purchasing an additional 4,247 shares during the quarter. Aptus Capital Advisors LLC's holdings in American Tower were worth $11,530,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. Balentine LLC acquired a new stake in shares of American Tower during the third quarter valued at about $586,000. Czech National Bank grew its stake in shares of American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust's stock valued at $22,128,000 after acquiring an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of American Tower by 13.8% during the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust's stock valued at $7,613,000 after acquiring an additional 4,660 shares in the last quarter. Tidal Investments LLC grew its stake in American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust's stock worth $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in American Tower by 29.0% in the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust's stock worth $8,157,000 after purchasing an additional 9,275 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on AMT. Mizuho lifted their price target on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. StockNews.com downgraded American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Royal Bank of Canada lifted 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. Deutsche Bank Aktiengesellschaft lifted 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, Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 30th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.85.
View Our Latest Research Report on American Tower
American Tower Price Performance
NYSE:AMT traded down $2.36 during midday trading on Tuesday, hitting $193.72. 2,953,326 shares of the stock were exchanged, compared to its average volume of 2,322,029. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market capitalization of $90.52 billion, a price-to-earnings ratio of 81.22, a P/E/G ratio of 1.34 and a beta of 0.84. The business has a 50-day moving average price of $225.56 and a two-hundred day moving average price of $210.50. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.
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 firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm earned $2.58 EPS. American Tower's revenue for the quarter was down 10.5% on a year-over-year basis. Sell-side analysts predict that American Tower Co. will post 10.08 EPS for the current year.
American Tower Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.35%. American Tower's payout ratio is 273.42%.
About American Tower
(
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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