Quintet Private Bank Europe S.A. Has $25.41 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Quintet Private Bank Europe S.A. lifted its position in American Tower Co. (NYSE:AMT - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,538 shares of the real estate investment trust's stock after buying an additional 13,910 shares during the quarter. American Tower comprises 1.4% of Quintet Private Bank Europe S.A.'s investment portfolio, making the stock its 24th largest holding. Quintet Private Bank Europe S.A.'s holdings in American Tower were worth $25,409,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Hara Capital LLC bought a new stake in shares of American Tower during the 3rd quarter worth $31,000. Roxbury Financial LLC bought a new stake in American Tower during the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter valued at approximately $34,000. Activest Wealth Management increased its position in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock worth $36,000 after buying an additional 125 shares during the period. Finally, Bank of Jackson Hole Trust acquired a new position in shares of American Tower during the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Up 0.9 %

AMT traded up $1.89 during mid-day trading on Wednesday, reaching $209.01. The stock had a trading volume of 1,969,651 shares, compared to its average volume of 2,219,904. The stock has a market capitalization of $97.67 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. 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 firm's fifty day simple moving average is $188.53 and its two-hundred day simple moving average is $206.45.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the business posted $2.29 earnings per share. American Tower's revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, December 27th. American Tower's payout ratio is 134.72%.

Analyst Upgrades and Downgrades

AMT has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. BMO Capital Markets upped their price objective on shares of American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Hsbc Global Res upgraded American Tower to a "strong-buy" rating in a research note on Thursday, February 27th. Finally, Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.21.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company's stock.

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.