Oppenheimer Asset Management Inc. Sells 4,330 Shares of American Tower Co. (NYSE:AMT)

Oppenheimer Asset Management Inc. lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,226 shares of the real estate investment trust's stock after selling 4,330 shares during the period. Oppenheimer Asset Management Inc.'s holdings in American Tower were worth $29,588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock valued at $1,243,333,000 after buying an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust's stock valued at $231,941,000 after buying an additional 993,061 shares in the last quarter. Vanguard Group Inc. increased its stake in American Tower by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust's stock worth $12,248,812,000 after acquiring an additional 965,938 shares during the last quarter. M&G Plc purchased a new stake in shares of American Tower during the 1st quarter worth approximately $164,300,000. Finally, International Assets Investment Management LLC boosted its position in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust's stock valued at $1,811,330,000 after acquiring an additional 775,379 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Barclays raised their price objective on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Finally, TD Cowen raised their price target on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $235.85.

American Tower Stock Up 0.7 %

Shares of AMT stock traded up $1.44 during mid-day trading on Wednesday, hitting $195.16. The stock had a trading volume of 2,251,627 shares, compared to its average volume of 2,322,183. The firm has a market capitalization of $91.20 billion, a P/E ratio of 82.35, a price-to-earnings-growth ratio of 1.29 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 Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm's 50-day moving average is $224.82 and its two-hundred day moving average is $210.66.

American Tower (NYSE:AMT - Get Free Report) last issued 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. The firm's revenue was down 10.5% on a year-over-year basis. On average, analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Wednesday, October 9th. American Tower's payout ratio is 273.42%.

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.