2,659 Shares in American Tower Co. (NYSE:AMT) Bought by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL bought a new position in shares of American Tower Co. (NYSE:AMT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,659 shares of the real estate investment trust’s stock, valued at approximately $618,000.

Other large investors also recently bought and sold shares of the company. Balentine LLC acquired a new position in American Tower in the third quarter valued at $586,000. Czech National Bank boosted its stake in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after acquiring an additional 6,163 shares in the last quarter. Tidal Investments LLC boosted its stake in American Tower by 27.7% in 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 acquiring an additional 4,430 shares in the last quarter. Cetera Advisors LLC boosted its stake in American Tower by 29.0% in the first 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 in the last quarter. Finally, Savvy Advisors Inc. boosted its stake in American Tower by 268.2% in the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock valued at $1,038,000 after acquiring an additional 3,251 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $196.45 on Friday. The company has a 50-day moving average price of $222.51 and a 200 day moving average price of $210.86. 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 company has a market cap of $91.80 billion, a P/E ratio of 82.89, a PEG ratio of 1.31 and a beta of 0.84.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. American Tower’s revenue was down 10.5% on a year-over-year basis. Research analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.30%. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Barclays increased their target price on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Four 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.85.

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.