Anson Funds Management LP Buys Shares of 9,720 American Tower Co. (NYSE:AMT)

Anson Funds Management LP bought a new stake in American Tower Co. (NYSE:AMT - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,720 shares of the real estate investment trust's stock, valued at approximately $2,260,000.

Other hedge funds have also made changes to their positions in the company. Cultivar Capital Inc. acquired a new stake in American Tower during the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC raised its stake 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 purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower during the second quarter worth $27,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in American Tower in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Down 1.0 %

Shares of NYSE AMT traded down $2.06 during midday trading on Friday, reaching $207.10. 2,677,904 shares of the stock were exchanged, compared to its average volume of 2,319,693. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $96.78 billion, a P/E ratio of 87.38, a P/E/G ratio of 1.38 and a beta of 0.83. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a 50 day moving average price of $213.32 and a 200-day moving average price of $213.12.

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 for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. 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 firm earned $2.58 EPS. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.13%. American Tower's payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted 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. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on American Tower from $225.00 to $236.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. Finally, Scotiabank dropped 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. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price 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.