American Tower Co. (NYSE:AMT) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its stake in shares of American Tower Co. (NYSE:AMT) by 7.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,743 shares of the real estate investment trust’s stock after acquiring an additional 126 shares during the period. Zions Bancorporation N.A.’s holdings in American Tower were worth $405,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMT. Cultivar Capital Inc. acquired a new position in shares of American Tower in the second quarter valued at approximately $25,000. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of American Tower during the second quarter worth $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in American Tower in the third quarter valued at $30,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AMT. TD Cowen increased their price target on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets reduced their target price 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. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Barclays increased their target price on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Stock Up 0.9 %

AMT opened at $196.45 on Friday. The stock has a market cap of $91.80 billion, a P/E ratio of 82.89, a P/E/G ratio of 1.30 and a beta of 0.84. 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 Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock’s 50 day moving average price is $223.30 and its 200 day moving average price is $210.44.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate 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 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. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, research analysts predict 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. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.30%. American Tower’s dividend payout ratio is currently 273.42%.

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.