4,936 Shares in American Tower Co. (NYSE:AMT) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new stake in American Tower Co. (NYSE:AMT - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,936 shares of the real estate investment trust's stock, valued at approximately $1,147,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Balentine LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $586,000. Czech National Bank increased its stake in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust's stock worth $22,128,000 after buying an additional 6,163 shares during the period. Tidal Investments LLC increased its stake in American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust's stock worth $4,029,000 after buying an additional 4,430 shares during the period. Cetera Advisors LLC increased its stake in American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust's stock worth $8,157,000 after buying an additional 9,275 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in American Tower by 46.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust's stock worth $5,980,000 after buying an additional 8,195 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 recently weighed in on the stock. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. Barclays dropped their price objective on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. Finally, Mizuho increased their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. Four 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, the company has an average rating of "Moderate Buy" and an average target price of $235.54.

American Tower Stock Up 0.3 %

Shares of American Tower stock traded up $0.54 during trading hours on Tuesday, hitting $208.09. The company had a trading volume of 1,791,434 shares, compared to its average volume of 2,324,273. The company's 50-day moving average is $217.47 and its two-hundred day moving average is $212.16. 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 company has a market cap of $97.24 billion, a P/E ratio of 87.80, a price-to-earnings-growth ratio of 1.36 and a beta of 0.84.

American Tower (NYSE:AMT - Get Free Report) last issued 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). 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 during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The company's quarterly revenue was down 10.5% on a year-over-year basis. Analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio is currently 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.