Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in American Tower Co. (NYSE:AMT - Free Report) by 31.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,491 shares of the real estate investment trust's stock after acquiring an additional 55,201 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in American Tower were worth $53,836,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. LRI Investments LLC bought a new position in American Tower during the 1st quarter worth about $99,000. Burney Co. grew its holdings in shares of American Tower by 314.7% during the first quarter. Burney Co. now owns 24,556 shares of the real estate investment trust's stock worth $4,852,000 after buying an additional 18,635 shares in the last quarter. PGGM Investments acquired a new stake in American Tower in the 1st quarter valued at approximately $220,000. Cetera Investment Advisers lifted its stake in American Tower by 344.2% in the 1st quarter. Cetera Investment Advisers now owns 111,449 shares of the real estate investment trust's stock valued at $22,021,000 after acquiring an additional 86,359 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in American Tower by 29.0% during the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust's stock worth $8,157,000 after acquiring an additional 9,275 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.
American Tower Stock Performance
Shares of AMT traded down $0.30 during trading hours on Friday, hitting $209.00. The company had a trading volume of 1,610,156 shares, compared to its average volume of 2,318,347. The business has a fifty day moving average of $215.95 and a 200-day moving average of $212.29. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $97.66 billion, a price-to-earnings ratio of 88.19, a PEG ratio of 1.39 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last released 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 company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The firm's revenue was down 10.5% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.
American Tower Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.10%. American Tower's dividend payout ratio (DPR) is presently 273.42%.
Analyst Ratings Changes
AMT has been the topic of a number of research reports. Mizuho boosted their price objective 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 objective on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 30th. Finally, StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Four research 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 stock. According to MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $235.54.
Check Out Our Latest Analysis on AMT
American Tower Profile
(
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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