American Tower Co. (NYSE:AMT) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its stake in American Tower Co. (NYSE:AMT - Free Report) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 88,610 shares of the real estate investment trust's stock after purchasing an additional 3,720 shares during the quarter. CIBC Asset Management Inc's holdings in American Tower were worth $20,607,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Balentine LLC purchased a new stake in shares of American Tower during the third quarter valued at $586,000. Czech National Bank grew its stake in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust's stock valued at $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Tidal Investments LLC raised its stake in shares of American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust's stock worth $4,029,000 after purchasing an additional 4,430 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust's stock worth $8,157,000 after purchasing an additional 9,275 shares during the period. Finally, Savvy Advisors Inc. increased its holdings in American Tower by 268.2% in the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust's stock worth $1,038,000 after buying an additional 3,251 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Trading Up 0.9 %

American Tower stock traded up $1.68 during midday trading on Friday, hitting $196.45. 2,587,387 shares of the stock were exchanged, compared to its average volume of 2,323,201. The stock's 50-day simple moving average is $222.51 and its 200 day simple moving average is $210.59. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. 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 stock has a market capitalization of $91.80 billion, a price-to-earnings ratio of 82.89, a PEG ratio of 1.30 and a beta of 0.84.

American Tower (NYSE:AMT - Get Free Report) last released 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). 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 during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. The company's revenue was down 10.5% on a year-over-year basis. On average, equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.30%. American Tower's payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of analyst reports. 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 report on Thursday, October 10th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. BMO Capital Markets decreased their target price 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, JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.85.

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.