UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in American Tower Co. (NYSE:AMT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,111,335 shares of the real estate investment trust's stock after purchasing an additional 224,261 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.88% of American Tower worth $956,132,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cultivar Capital Inc. bought a new stake in American Tower in the 2nd quarter valued at $25,000. Fortitude Family Office LLC boosted its position in shares of American Tower by 269.0% during the third 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 bought a new position in shares of American Tower during the second quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the 2nd quarter valued at approximately $29,000. Finally, Northwest Investment Counselors LLC bought a new stake in American Tower in the 3rd quarter valued at approximately $30,000. Institutional investors own 92.69% of the company's stock.

American Tower Price Performance

American Tower stock traded up $1.30 during midday trading on Thursday, reaching $209.30. The company's stock had a trading volume of 1,669,442 shares, compared to its average volume of 2,321,427. The stock has a market cap of $97.80 billion, a PE ratio of 88.31, a price-to-earnings-growth ratio of 1.38 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. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The business has a 50-day moving average price of $216.48 and a 200-day moving average price of $212.12.

American Tower (NYSE:AMT - Get Free Report) last posted 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). The firm 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%. American Tower's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 earnings per share. On average, 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. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower's payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective 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. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Scotiabank dropped their target price on American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. 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, American Tower presently has an average rating of "Moderate Buy" and an average price target of $235.54.

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.