Intech Investment Management LLC lessened its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 83.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,693 shares of the real estate investment trust's stock after selling 37,890 shares during the quarter. Intech Investment Management LLC's holdings in American Tower were worth $1,789,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the 2nd quarter valued at approximately $25,000. Fortitude Family Office LLC raised its position 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 purchasing an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in American Tower in the second quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new stake in American Tower in the second quarter valued at approximately $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in American Tower in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 92.69% of the company's stock.
American Tower Stock Up 0.3 %
Shares of AMT stock traded up $0.54 on Tuesday, reaching $208.09. 1,791,434 shares of the stock were exchanged, compared to its average volume of 2,324,273. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business's 50 day moving average price is $217.47 and its 200 day moving average price is $212.16. The company has a market capitalization of $97.24 billion, a price-to-earnings ratio of 87.80, a PEG ratio of 1.36 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results 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). The firm 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%. The business's revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. As a group, sell-side analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.
American Tower Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.11%. American Tower's dividend payout ratio is presently 273.42%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on AMT shares. JPMorgan Chase & Co. boosted their target price on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Barclays cut their target price on American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. TD Cowen boosted their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Finally, Scotiabank dropped their price target on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note 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 company's stock. According to data from MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.54.
Check Out Our Latest Report on AMT
About American Tower
(
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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