10,784 Shares in American Tower Co. (NYSE:AMT) Acquired by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in American Tower Co. (NYSE:AMT) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,784 shares of the real estate investment trust’s stock, valued at approximately $2,484,000.

Several other institutional investors also recently made changes to their positions in the stock. Balentine LLC acquired a new position in American Tower in the third quarter valued at $586,000. Czech National Bank lifted its stake in shares of American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of American Tower by 46.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after purchasing an additional 8,195 shares in the last quarter. Savvy Advisors Inc. increased its position in American Tower by 268.2% during the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after purchasing an additional 3,251 shares in the last quarter. Finally, Atria Investments Inc raised its holdings in American Tower by 9.6% in the third quarter. Atria Investments Inc now owns 44,730 shares of the real estate investment trust’s stock valued at $10,402,000 after buying an additional 3,934 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on AMT. BMO Capital Markets decreased their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Barclays lowered their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. 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. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Trading Down 0.8 %

AMT opened at $207.33 on Tuesday. The stock has a market capitalization of $96.88 billion, a PE ratio of 87.48, a P/E/G ratio of 1.39 and a beta of 0.83. 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 firm’s fifty day moving average price is $215.95 and its 200 day moving average price is $212.61.

American Tower (NYSE:AMT) last issued its quarterly 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). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 EPS. As a group, research analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.13%. American Tower’s dividend payout ratio (DPR) is 273.42%.

American Tower Company 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.