Peapack Gladstone Financial Corp Has $9.14 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Peapack Gladstone Financial Corp trimmed its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,295 shares of the real estate investment trust's stock after selling 2,567 shares during the quarter. Peapack Gladstone Financial Corp's holdings in American Tower were worth $9,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. NBT Bank N A NY grew its position in American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust's stock worth $329,000 after acquiring an additional 54 shares in the last quarter. CX Institutional increased its position in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock worth $450,000 after buying an additional 54 shares during the last quarter. O Brien Greene & Co. Inc raised its holdings in American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock valued at $481,000 after buying an additional 55 shares in the last quarter. Palumbo Wealth Management LLC raised its holdings in American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock valued at $864,000 after buying an additional 57 shares in the last quarter. Finally, Tyche Wealth Partners LLC lifted its position in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust's stock worth $242,000 after buying an additional 58 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE:AMT traded down $0.69 during trading on Friday, hitting $197.16. 1,995,540 shares of the stock were exchanged, compared to its average volume of 2,322,496. The company's fifty day simple moving average is $210.40 and its 200-day simple moving average is $213.24. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $92.13 billion, a price-to-earnings ratio of 83.19, a price-to-earnings-growth ratio of 1.33 and a beta of 0.83. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.58 EPS. Sell-side analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio is 273.42%.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Scotiabank reduced their price objective 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. JPMorgan Chase & Co. raised their target price on shares of American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Four equities research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.85.

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.