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

FMR LLC raised its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 25.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,642,133 shares of the real estate investment trust's stock after acquiring an additional 2,152,646 shares during the period. FMR LLC owned approximately 2.28% of American Tower worth $2,474,934,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cultivar Capital Inc. purchased a new position in shares of American Tower during the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC increased 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 buying an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the second quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new stake in shares of American Tower during the 2nd quarter worth about $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at about $30,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.5 %

Shares of American Tower stock traded up $0.95 during mid-day trading on Tuesday, hitting $208.50. The stock had a trading volume of 1,309,654 shares, compared to its average volume of 2,321,757. The firm has a 50-day moving average of $218.10 and a two-hundred day moving average of $211.99. The firm has a market cap of $97.43 billion, a P/E ratio of 87.59, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84. 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 Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

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 earnings per share (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 business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The firm's revenue for the quarter was down 10.5% compared to the same quarter last year. Sell-side analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower's payout ratio is 273.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AMT shares. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. BMO Capital Markets cut 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. Wells Fargo & Company cut American Tower from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Finally, Scotiabank reduced their target price on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research report on Wednesday, October 30th. Four 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.