Stevens Capital Management LP acquired a new position in shares of American Tower Co. (NYSE:AMT - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,160 shares of the real estate investment trust's stock, valued at approximately $4,223,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBT Bank N A NY grew its position in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust's stock valued at $329,000 after purchasing an additional 54 shares during the period. CX Institutional grew its holdings in American Tower by 2.9% in the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock valued at $450,000 after buying an additional 54 shares during the period. O Brien Greene & Co. Inc increased its stake in shares of American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock valued at $481,000 after acquiring an additional 55 shares during the last quarter. Palumbo Wealth Management LLC lifted its holdings in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock worth $864,000 after acquiring an additional 57 shares during the period. Finally, Tyche Wealth Partners LLC boosted its position in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust's stock worth $242,000 after acquiring an additional 58 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
American Tower Stock Up 0.8 %
Shares of NYSE:AMT traded up $1.66 during midday trading on Thursday, reaching $209.16. The company had a trading volume of 2,186,847 shares, compared to its average volume of 2,319,916. The stock's fifty day moving average price is $214.24 and its 200-day moving average price is $212.75. The stock has a market capitalization of $97.74 billion, a P/E ratio of 87.92, a PEG ratio of 1.38 and a beta of 0.83. American Tower Co. has a one year low of $170.46 and a one year 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.
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 EPS 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 firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the business posted $2.58 earnings per share. The firm's revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.
American Tower Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. American Tower's dividend payout ratio is presently 273.42%.
Analyst Ratings Changes
A number of equities analysts have weighed in on AMT shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Scotiabank cut their target price on American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets lowered 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. Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.54.
Read Our Latest Research Report on AMT
About American Tower
(
Free Report)
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.
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