5,564 Shares in American Tower Co. (NYSE:AMT) Acquired by MQS Management LLC

MQS Management LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,564 shares of the real estate investment trust's stock, valued at approximately $1,294,000. American Tower makes up 0.7% of MQS Management LLC's portfolio, making the stock its 2nd largest position.

Several other large investors have also recently made changes to their positions in the business. Balentine LLC bought a new position in American Tower in the 3rd quarter worth about $586,000. Czech National Bank increased its holdings 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 purchasing an additional 6,163 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of American Tower by 13.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust's stock worth $7,613,000 after purchasing an additional 4,660 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust's stock valued at $4,029,000 after buying an additional 4,430 shares during the period. Finally, 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 in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 0.7 %

Shares of NYSE AMT traded up $1.44 during mid-day trading on Wednesday, reaching $195.16. 2,251,672 shares of the company traded hands, compared to its average volume of 2,321,714. The stock has a market cap of $91.20 billion, a PE ratio of 82.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company's fifty day moving average is $224.82 and its two-hundred day moving average is $210.66. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business's quarterly 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, analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is currently 273.42%.

Analysts Set New Price Targets

A number of research firms recently commented on AMT. TD Cowen upped their price objective on American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Barclays upped their price objective on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, 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. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.85.

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.