American Tower Co. (NYSE:AMT) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lifted its stake in shares of American Tower Co. (NYSE:AMT) by 45.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,803 shares of the real estate investment trust’s stock after purchasing an additional 17,931 shares during the period. Northwest & Ethical Investments L.P.’s holdings in American Tower were worth $13,443,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AMT. NBT Bank N A NY increased its holdings in shares of American Tower by 3.3% in the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares during the last quarter. CX Institutional increased its stake in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the last quarter. O Brien Greene & Co. Inc raised its holdings in shares of American Tower by 2.3% during the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock worth $481,000 after purchasing an additional 55 shares during the period. Palumbo Wealth Management LLC lifted its position in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC boosted its holdings in shares of American Tower by 4.9% in the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 58 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research reports. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Barclays lowered their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. Scotiabank cut their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Price Performance

Shares of NYSE AMT traded up $1.30 during mid-day trading on Thursday, reaching $209.30. 1,669,442 shares of the company traded hands, compared to its average volume of 2,321,427. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market cap of $97.80 billion, a PE ratio of 88.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. The stock has a fifty day simple moving average of $216.94 and a 200-day simple moving average of $212.14. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm 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%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

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.