Oppenheimer & Co. Inc. Decreases Stock Position in American Tower Co. (NYSE:AMT)

Oppenheimer & Co. Inc. lessened its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 34.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,754 shares of the real estate investment trust's stock after selling 25,610 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in American Tower were worth $11,106,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ameriprise Financial Inc. boosted its stake in shares of American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock valued at $1,243,333,000 after buying an additional 1,885,421 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust's stock valued at $231,941,000 after buying an additional 993,061 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust's stock valued at $12,248,812,000 after buying an additional 965,938 shares during the last quarter. M&G Plc purchased a new position in shares of American Tower during the 1st quarter valued at approximately $164,300,000. Finally, International Assets Investment Management LLC boosted its stake in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust's stock valued at $1,811,330,000 after buying an additional 775,379 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Down 0.1 %

Shares of American Tower stock traded down $0.25 on Thursday, hitting $194.91. The company had a trading volume of 2,281,814 shares, compared to its average volume of 2,321,998. The stock has a market capitalization of $91.08 billion, a price-to-earnings ratio of 82.35, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a 50 day moving average of $224.08 and a 200-day moving average of $210.55. 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 (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 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 business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The business's revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.32%. American Tower's dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMT. JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. TD Cowen raised their target price on American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Barclays raised their price target on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower 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.