American Tower Co. (NYSE:AMT) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,325 shares of the real estate investment trust’s stock after buying an additional 654 shares during the period. Summit Trail Advisors LLC’s holdings in American Tower were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Balentine LLC acquired a new stake in American Tower in the 3rd quarter worth approximately $586,000. Czech National Bank lifted its stake in shares of American Tower by 6.9% during the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the period. Tidal Investments LLC grew its holdings in shares of American Tower by 27.7% during the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares during the last quarter. Cetera Advisors LLC increased its position in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares during the period. Finally, Banque Cantonale Vaudoise raised its stake in 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 worth $5,980,000 after acquiring an additional 8,195 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMT shares. JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Mizuho increased their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Barclays decreased their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Price Performance

Shares of American Tower stock opened at $204.31 on Monday. The firm has a market cap of $95.47 billion, a PE ratio of 86.21, a P/E/G ratio of 1.36 and a beta of 0.84. The business has a 50-day moving average price of $218.75 and a 200 day moving average price of $211.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given 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 3.17%. American Tower’s dividend payout ratio (DPR) is 273.42%.

About American Tower

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.