American Tower Co. (NYSE:AMT) Shares Sold by BNP Paribas

BNP Paribas reduced its position in American Tower Co. (NYSE:AMT) by 34.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,653 shares of the real estate investment trust’s stock after selling 3,545 shares during the period. BNP Paribas’ holdings in American Tower were worth $1,543,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cultivar Capital Inc. acquired a new position in American Tower during the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC raised its position in shares of 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 purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the 2nd quarter valued at approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at approximately $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 0.6 %

Shares of NYSE AMT opened at $209.31 on Thursday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market cap of $97.81 billion, a price-to-earnings ratio of 88.32, a P/E/G ratio of 1.38 and a beta of 0.84. 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 business has a fifty day simple moving average of $216.94 and a 200-day simple moving average of $212.14.

American Tower (NYSE:AMT) last posted 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). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 earnings per share. Sell-side analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays cut their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $235.54.

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.