American Tower Co. (NYSE:AMT) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 29.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,055 shares of the real estate investment trust's stock after acquiring an additional 5,064 shares during the period. Quantinno Capital Management LP's holdings in American Tower were worth $5,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMT. Balentine LLC acquired a new position in American Tower during the third quarter worth $586,000. Point72 Hong Kong Ltd purchased a new position in shares of American Tower in the third quarter valued at $1,156,000. Czech National Bank raised its stake in shares of 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 buying an additional 6,163 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in shares of American Tower by 46.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust's stock worth $5,980,000 after buying an additional 8,195 shares in the last quarter. Finally, Savvy Advisors Inc. grew its stake in American Tower by 268.2% in the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust's stock valued at $1,038,000 after acquiring an additional 3,251 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Scotiabank cut their target price on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research report on Wednesday, October 30th. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Barclays cut their price target on American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a report on Monday, November 18th. Finally, Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the stock an "outperform" rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $235.54.

American Tower Trading Down 1.0 %

Shares of AMT traded down $2.06 during mid-day trading on Friday, hitting $207.10. The company had a trading volume of 2,677,904 shares, compared to its average volume of 2,319,693. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business's 50-day simple moving average is $213.32 and its 200-day simple moving average is $212.96. The stock has a market cap of $96.78 billion, a PE ratio of 87.38, a P/E/G ratio of 1.38 and a beta of 0.83.

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 for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). The company 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 firm's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.58 EPS. Sell-side analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.13%. American Tower's dividend payout ratio (DPR) is 273.42%.

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.