Worldquant Millennium Advisors LLC Takes $1.29 Million Position in American Tower Co. (NYSE:AMT)

Worldquant Millennium Advisors LLC purchased a new stake in American Tower Co. (NYSE:AMT - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,534 shares of the real estate investment trust's stock, valued at approximately $1,287,000.

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

American Tower Price Performance

American Tower stock traded up $1.92 during midday trading on Monday, reaching $209.02. The company had a trading volume of 2,854,237 shares, compared to its average volume of 2,323,738. The company has a market capitalization of $97.67 billion, a P/E ratio of 88.19, a P/E/G ratio of 1.38 and a beta of 0.83. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm's fifty day simple moving average is $212.85 and its 200-day simple moving average is $213.27. 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 issued 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 analysts' expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 earnings per share. As a group, equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio (DPR) is 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. Barclays cut their price objective on American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a report on Monday, November 18th. Mizuho raised their price target 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. BMO Capital Markets lowered their price target on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Finally, Scotiabank cut their price target 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. 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 stock. Based on data from MarketBeat.com, American Tower presently has an average rating of "Moderate Buy" and an average target price of $235.54.

About American Tower

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.