American Tower Co. (NYSE:AMT) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 36.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,234 shares of the real estate investment trust's stock after acquiring an additional 34,670 shares during the period. Cerity Partners LLC's holdings in American Tower were worth $30,055,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new position in American Tower during the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower during the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of American Tower in the 3rd quarter worth about $30,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

American Tower stock traded up $3.29 during trading hours on Monday, hitting $207.60. 3,605,941 shares of the company traded hands, compared to its average volume of 2,326,611. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The firm has a market cap of $97.01 billion, a P/E ratio of 86.21, a P/E/G ratio of 1.36 and a beta of 0.84. The firm's 50-day simple moving average is $218.75 and its two-hundred day simple moving average is $211.84. 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 (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 analysts' consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analyst estimates 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 was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. As a group, analysts forecast 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 was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower's payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AMT. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft lifted their target price on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. TD Cowen raised their price target on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets lowered their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower 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.