Y Intercept Hong Kong Ltd Acquires Shares of 10,943 American Tower Co. (NYSE:AMT)

Y Intercept Hong Kong Ltd acquired a new position in American Tower Co. (NYSE:AMT - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,943 shares of the real estate investment trust's stock, valued at approximately $2,545,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. purchased a new position in American Tower in the second quarter worth $25,000. Fortitude Family Office LLC grew its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in American Tower during the second quarter worth about $27,000. Hobbs Group Advisors LLC bought a new stake in American Tower in the second quarter worth about $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter valued at about $30,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

Shares of NYSE AMT traded down $9.46 during midday trading on Tuesday, hitting $199.58. 2,653,326 shares of the stock traded hands, compared to its average volume of 2,325,503. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The firm has a market capitalization of $93.26 billion, a P/E ratio of 84.19, a PEG ratio of 1.38 and a beta of 0.83. The firm has a 50-day moving average of $212.85 and a two-hundred day moving average of $213.27.

American Tower (NYSE:AMT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the previous year, the firm earned $2.58 EPS. The company's revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, December 27th. American Tower's dividend payout ratio (DPR) is 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. Barclays decreased their target price on American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Wells Fargo & Company lowered American Tower from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted 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. Mizuho upped 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, American Tower has an average rating of "Moderate Buy" and an average price target of $235.54.

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.