Quantinno Capital Management LP boosted its stake in American Tower Co. (NYSE:AMT - Free Report) by 29.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,055 shares of the real estate investment trust's stock after purchasing an additional 5,064 shares during the period. Quantinno Capital Management LP's holdings in American Tower were worth $5,129,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the stock. Park National Corp OH increased its position in American Tower by 0.5% during the 2nd quarter. Park National Corp OH now owns 51,140 shares of the real estate investment trust's stock valued at $9,941,000 after purchasing an additional 267 shares during the period. Occidental Asset Management LLC raised its stake in American Tower by 10.6% during the second quarter. Occidental Asset Management LLC now owns 13,193 shares of the real estate investment trust's stock worth $2,564,000 after buying an additional 1,265 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in American Tower by 1.8% in the second quarter. Dynamic Advisor Solutions LLC now owns 15,154 shares of the real estate investment trust's stock valued at $2,946,000 after buying an additional 264 shares during the period. Werlinich Asset Management LLC boosted its position in American Tower by 2.4% during the second quarter. Werlinich Asset Management LLC now owns 8,350 shares of the real estate investment trust's stock valued at $1,631,000 after acquiring an additional 195 shares during the last quarter. Finally, Wedmont Private Capital raised its position in shares of American Tower by 19.5% in the 2nd quarter. Wedmont Private Capital now owns 2,809 shares of the real estate investment trust's stock worth $592,000 after acquiring an additional 459 shares in the last quarter. 92.69% of the stock is owned by institutional investors.
Shares of American Tower stock opened at $207.10 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. 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 50 day moving average price of $213.32 and a 200-day moving average price of $212.96. The company has a market cap of $96.78 billion, a PE ratio of 87.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83.
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 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 earnings per share. Equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio (DPR) is presently 273.42%.
Several research firms recently commented on AMT. Deutsche Bank Aktiengesellschaft raised their target price on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company cut shares of American Tower from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the company 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $235.54.
Read Our Latest Report on AMT
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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