Duff & Phelps Investment Management Co. Has $212.35 Million Stock Position in American Tower Co. (NYSE:AMT)

Duff & Phelps Investment Management Co. lowered its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 913,089 shares of the real estate investment trust's stock after selling 73,148 shares during the quarter. American Tower comprises approximately 2.4% of Duff & Phelps Investment Management Co.'s portfolio, making the stock its 4th biggest position. Duff & Phelps Investment Management Co. owned 0.20% of American Tower worth $212,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raelipskie Partnership bought a new position in American Tower during the 3rd quarter valued at approximately $1,152,000. Continuum Advisory LLC grew its stake in shares of American Tower by 5.8% in the third 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 during the last quarter. PYA Waltman Capital LLC increased its holdings in shares of American Tower by 5.0% during the third quarter. PYA Waltman Capital LLC now owns 9,478 shares of the real estate investment trust's stock valued at $2,204,000 after acquiring an additional 449 shares in the last quarter. Drucker Wealth 3.0 LLC raised its position in shares of American Tower by 5.8% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 13,160 shares of the real estate investment trust's stock worth $3,061,000 after purchasing an additional 725 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank boosted its stake in American Tower by 6.3% in the 3rd 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 purchasing an additional 994 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Barclays cut their target price on American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Finally, Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of "Moderate Buy" and an average target price of $235.54.

American Tower Stock Performance

AMT traded up $1.92 during midday trading on Monday, reaching $209.02. The company had a trading volume of 2,854,237 shares, compared to its average volume of 2,323,738. The business has a 50-day moving average of $213.32 and a two-hundred day moving average of $213.12. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market cap of $97.67 billion, a P/E ratio of 87.38, a P/E/G ratio of 1.38 and a beta of 0.83.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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 firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 earnings per share. As a group, equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Friday, December 27th. American Tower's dividend payout ratio 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.