CWA Asset Management Group LLC Purchases New Stake in American Tower Co. (NYSE:AMT)

CWA Asset Management Group LLC purchased a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,904 shares of the real estate investment trust's stock, valued at approximately $5,559,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBT Bank N A NY boosted its stake in shares of American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust's stock worth $329,000 after buying an additional 54 shares during the last quarter. CX Institutional raised its position in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock worth $450,000 after acquiring an additional 54 shares during the period. O Brien Greene & Co. Inc boosted its stake in American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock valued at $481,000 after acquiring an additional 55 shares during the last quarter. Palumbo Wealth Management LLC grew its position in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock valued at $864,000 after acquiring an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC grew its holdings in American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust's stock valued at $242,000 after purchasing an additional 58 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada upped their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. Scotiabank lowered their target price on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a report on Wednesday, October 30th. TD Cowen increased their target price on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research report on Wednesday, July 31st. 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 report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Four equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $235.85.

American Tower Price Performance

NYSE AMT traded up $3.93 during trading hours on Friday, reaching $201.80. 3,981,626 shares of the stock traded hands, compared to its average volume of 2,317,385. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a 50 day simple moving average of $226.12 and a two-hundred day simple moving average of $209.83. 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 $94.30 billion, a price-to-earnings ratio of 85.15, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The company's revenue was down 10.5% compared to the same quarter last year. On average, analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.21%. American Tower's dividend payout ratio (DPR) 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.