5,272 Shares in American Tower Co. (NYSE:AMT) Purchased by Safe Harbor Fiduciary LLC

Safe Harbor Fiduciary LLC bought a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,272 shares of the real estate investment trust's stock, valued at approximately $1,226,000. American Tower accounts for about 1.1% of Safe Harbor Fiduciary LLC's investment portfolio, making the stock its 22nd largest position.

A number of other hedge funds have also added to or reduced their stakes in AMT. Balentine LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at about $586,000. Point72 Hong Kong Ltd bought a new position in shares of American Tower in the 3rd quarter worth $1,156,000. Czech National Bank grew its position in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust's stock valued at $22,128,000 after purchasing an additional 6,163 shares during the period. Banque Cantonale Vaudoise increased its stake in American Tower by 46.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust's stock valued at $5,980,000 after purchasing an additional 8,195 shares in the last quarter. Finally, Savvy Advisors Inc. raised its holdings in American Tower by 268.2% during the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust's stock worth $1,038,000 after buying an additional 3,251 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 0.7 %

Shares of American Tower stock traded up $1.55 during trading on Thursday, reaching $209.05. The company's stock had a trading volume of 1,401,350 shares, compared to its average volume of 2,315,461. The company has a market cap of $97.69 billion, a price-to-earnings ratio of 87.92, a PEG ratio of 1.38 and a beta of 0.83. The firm's 50-day moving average is $214.24 and its two-hundred day moving average is $212.75. American Tower Co. has a 52-week low of $170.46 and a 52-week 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.

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 the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.77 billion. During the same period in the previous year, the company earned $2.58 EPS. The company's quarterly revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is currently 273.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AMT shares. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. BMO Capital Markets decreased 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. JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Finally, Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a research note on Monday, November 18th. Four investment 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.