Czech National Bank Increases Holdings in American Tower Co. (NYSE:AMT)

Czech National Bank increased its position in American Tower Co. (NYSE:AMT - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 101,318 shares of the real estate investment trust's stock after purchasing an additional 6,169 shares during the quarter. Czech National Bank's holdings in American Tower were worth $18,583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMT. FMR LLC raised its stake in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock valued at $2,474,934,000 after buying an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. raised its stake in American Tower by 41.8% during the second 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 during the last quarter. Adelante Capital Management LLC raised its stake in American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock valued at $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC raised its stake in American Tower by 23,224.1% during the third 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 during the last quarter. Finally, International Assets Investment Management LLC raised its stake in American Tower by 22,242.7% during the third 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 buying 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

A number of analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Scotiabank reduced their target price on American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Finally, StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $230.67.

American Tower Stock Performance

NYSE:AMT traded up $2.05 during mid-day trading on Tuesday, hitting $178.99. 2,124,337 shares of the company traded hands, compared to its average volume of 2,430,054. The stock's fifty day moving average price is $193.58 and its 200-day moving average price is $211.68. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $83.64 billion, a price-to-earnings ratio of 75.52, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84.

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

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.62%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio is presently 273.42%.

American Tower 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.