Glenmede Trust Co. NA decreased its stake in American Tower Co. (NYSE:AMT - Free Report) by 58.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,560 shares of the real estate investment trust's stock after selling 86,579 shares during the quarter. Glenmede Trust Co. NA's holdings in American Tower were worth $14,084,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of AMT. Balentine LLC purchased a new position in American Tower during the third quarter worth approximately $586,000. Czech National Bank boosted its position in American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust's stock worth $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Cetera Advisors LLC boosted its position in 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 in the last quarter. Banque Cantonale Vaudoise boosted its position in American Tower by 46.8% during the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust's stock worth $5,980,000 after purchasing an additional 8,195 shares in the last quarter. Finally, Savvy Advisors Inc. boosted its position in American Tower by 268.2% during the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust's stock worth $1,038,000 after purchasing an additional 3,251 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. 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 research report on Thursday, August 15th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased 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. 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. Finally, Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $235.54.
View Our Latest Research Report on AMT
American Tower Price Performance
Shares of NYSE:AMT traded down $0.30 during midday trading on Friday, hitting $209.00. The company had a trading volume of 1,610,156 shares, compared to its average volume of 2,318,347. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. 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 market cap of $97.66 billion, a price-to-earnings ratio of 88.31, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. The business's 50-day simple moving average is $216.48 and its 200-day simple moving average is $212.12.
American Tower (NYSE:AMT - Get Free Report) last posted its 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). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. On average, research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.
American Tower Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.10%. American Tower's dividend payout ratio is currently 273.42%.
American Tower Profile
(
Free Report)
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.
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