Quest Partners LLC Increases Stake in American Tower Co. (NYSE:AMT)

Quest Partners LLC lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 412.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,836 shares of the real estate investment trust's stock after acquiring an additional 6,308 shares during the period. Quest Partners LLC's holdings in American Tower were worth $1,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMT. Fortitude Family Office LLC lifted its stake in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower during the 2nd quarter worth about $27,000. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter worth about $30,000. Cultivar Capital Inc. acquired a new stake in shares of American Tower during the 2nd quarter worth about $25,000. Finally, Hara Capital LLC acquired a new stake in American Tower in the 3rd quarter worth about $31,000. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on AMT shares. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an "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 report on Monday, September 23rd. TD Cowen raised their target price on shares of American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Barclays decreased their target price on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Wells Fargo & Company lowered shares of American Tower from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Four equities research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $235.54.

American Tower Stock Up 1.2 %

Shares of NYSE AMT traded up $2.31 during trading on Tuesday, hitting $201.15. The stock had a trading volume of 2,513,772 shares, compared to its average volume of 2,324,283. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market capitalization of $94.00 billion, a PE ratio of 83.90, a PEG ratio of 1.31 and a beta of 0.84. The firm has a fifty day moving average of $221.71 and a two-hundred day moving average of $211.24.

American Tower (NYSE:AMT - Get Free Report) last posted 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 return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business's revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.22%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is currently 273.42%.

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.