Equitable Trust Co. Acquires 8,189 Shares of American Tower Co. (NYSE:AMT)

Equitable Trust Co. boosted its position in American Tower Co. (NYSE:AMT - Free Report) by 212.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,045 shares of the real estate investment trust's stock after buying an additional 8,189 shares during the quarter. Equitable Trust Co.'s holdings in American Tower were worth $2,801,000 as of its most recent filing with the SEC.

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

American Tower Stock Up 2.0 %

Shares of NYSE AMT traded up $3.93 during mid-day trading on Friday, reaching $201.80. 3,981,626 shares of the company's 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. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market cap of $94.30 billion, a P/E ratio of 85.15, a PEG ratio of 1.38 and a beta of 0.84. The business has a 50-day simple moving average of $226.12 and a 200 day simple moving average of $209.83.

American Tower (NYSE:AMT - Get Free Report) last issued 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 return on equity of 22.01% and a net margin of 10.05%. 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 earnings per share. The business's revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 3.21%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio is 273.42%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. TD Cowen lifted their target price on American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their price target on American Tower from $225.00 to $236.00 and gave the stock an "outperform" rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, American Tower has an average rating of "Moderate Buy" and a consensus price target of $235.85.

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.