Commonwealth Equity Services LLC raised its position in shares of American Tower Corp (NYSE:AMT) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,847 shares of the real estate investment trust’s stock after acquiring an additional 2,500 shares during the period. Commonwealth Equity Services LLC’s holdings in American Tower were worth $9,858,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of AMT. BlackRock Inc. grew its position in American Tower by 8.9% during the second quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock valued at $4,233,258,000 after acquiring an additional 2,410,425 shares during the period. Resolution Capital Ltd grew its position in American Tower by 291.1% during the third quarter. Resolution Capital Ltd now owns 1,522,702 shares of the real estate investment trust’s stock valued at $187,429,000 after acquiring an additional 1,133,323 shares during the period. AustralianSuper Pty Ltd purchased a new stake in American Tower during the second quarter valued at about $155,992,000. Dimensional Fund Advisors LP grew its position in American Tower by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock valued at $869,663,000 after acquiring an additional 713,894 shares during the period. Finally, Putnam Investments LLC grew its position in American Tower by 19.5% during the second quarter. Putnam Investments LLC now owns 2,710,662 shares of the real estate investment trust’s stock valued at $390,796,000 after acquiring an additional 441,479 shares during the period. 93.41% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the company. Oppenheimer boosted their price target on American Tower from $167.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, August 1st. Guggenheim reissued a “hold” rating and set a $160.00 price target on shares of American Tower in a research report on Tuesday, August 7th. Argus boosted their price target on American Tower from $154.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Cowen reissued a “buy” rating and set a $161.00 price target on shares of American Tower in a research report on Wednesday, August 1st. Finally, Deutsche Bank boosted their price target on American Tower from $155.00 to $169.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. American Tower currently has a consensus rating of “Buy” and a consensus target price of $164.20.
Shares of NYSE AMT opened at $162.13 on Friday. American Tower Corp has a 1-year low of $130.37 and a 1-year high of $163.58. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.11. The stock has a market capitalization of $71.05 billion, a PE ratio of 25.41, a P/E/G ratio of 1.56 and a beta of 0.59.
American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that American Tower Corp will post 7.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were given a $0.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.95%. American Tower’s dividend payout ratio is presently 49.53%.
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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 approximately 170,000 communications sites.
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