American Tower Co. (NYSE:AMT) Shares Acquired by Premier Fund Managers Ltd

Premier Fund Managers Ltd boosted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 21.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,101 shares of the real estate investment trust's stock after buying an additional 18,753 shares during the quarter. Premier Fund Managers Ltd's holdings in American Tower were worth $24,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cultivar Capital Inc. purchased a new position in shares of American Tower in the 2nd quarter valued at about $25,000. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC purchased a new position in shares of American Tower during the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower in the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Trading Down 0.3 %

Shares of AMT stock traded down $0.66 on Wednesday, hitting $200.49. The stock had a trading volume of 596,080 shares, compared to its average volume of 2,316,605. The company's 50 day moving average price is $220.88 and its 200-day moving average price is $211.37. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market capitalization of $93.69 billion, a P/E ratio of 84.88, a P/E/G ratio of 1.31 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $2.52 billion during 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 company's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 EPS. Analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 3.23%. American Tower's dividend payout ratio (DPR) is 273.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Scotiabank reduced their price objective 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. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. TD Cowen raised their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.