Tidal Investments LLC Has $4.65 Million Stake in American Tower Co. (NYSE:AMT)

Tidal Investments LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 5.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,990 shares of the real estate investment trust’s stock after purchasing an additional 1,032 shares during the period. Tidal Investments LLC’s holdings in American Tower were worth $4,649,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AMT. Balentine LLC acquired a new position in shares of American Tower in the third quarter worth approximately $586,000. Point72 Hong Kong Ltd bought a new position in American Tower during the 3rd quarter worth approximately $1,156,000. Czech National Bank lifted its position 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 worth $22,128,000 after purchasing an additional 6,163 shares during the period. Banque Cantonale Vaudoise boosted 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 during the last quarter. Finally, Savvy Advisors Inc. increased its position in shares of American Tower by 268.2% during the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after buying an additional 3,251 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.3 %

American Tower stock opened at $197.17 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s fifty day moving average price is $210.40 and its two-hundred day moving average price is $213.24. The firm has a market capitalization of $92.14 billion, a price-to-earnings ratio of 83.19, a price-to-earnings-growth ratio of 1.33 and a beta of 0.83. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company 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%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 EPS. On average, equities research 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 declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Analysts Set New Price Targets

Several research firms recently issued reports on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Barclays dropped their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower 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.