Quantbot Technologies LP Buys Shares of 7,926 American Tower Co. (NYSE:AMT)

Quantbot Technologies LP acquired a new stake in shares of American Tower Co. (NYSE:AMT - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,926 shares of the real estate investment trust's stock, valued at approximately $1,843,000.

Other large investors have also modified their holdings of the company. PGGM Investments bought a new position in American Tower during the first quarter worth about $220,000. Cetera Investment Advisers boosted its stake in American Tower by 344.2% in the 1st quarter. Cetera Investment Advisers now owns 111,449 shares of the real estate investment trust's stock valued at $22,021,000 after buying an additional 86,359 shares in the last quarter. Cetera Advisors LLC boosted its stake in American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust's stock valued at $8,157,000 after buying an additional 9,275 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in American Tower by 24.1% during the first quarter. EverSource Wealth Advisors LLC now owns 907 shares of the real estate investment trust's stock worth $179,000 after acquiring an additional 176 shares in the last quarter. Finally, Keynote Financial Services LLC bought a new position in shares of American Tower during the first quarter valued at $237,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of NYSE:AMT opened at $209.00 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market capitalization of $97.66 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.39 and a beta of 0.84. The business has a 50-day moving average price of $215.95 and a two-hundred day moving average price of $212.29.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the firm earned $2.58 earnings per share. The company's quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. American Tower's dividend payout ratio (DPR) is presently 273.42%.

Analyst Upgrades and Downgrades

AMT has been the topic of several analyst reports. Scotiabank lowered their target price on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. BMO Capital Markets reduced their target price on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Finally, Mizuho boosted their price objective on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $235.54.

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.