Chicago Partners Investment Group LLC cut its stake in American Tower Co. (NYSE:AMT - Free Report) by 13.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,957 shares of the real estate investment trust's stock after selling 7,790 shares during the quarter. Chicago Partners Investment Group LLC's holdings in American Tower were worth $11,756,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank boosted its stake in shares of 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 purchasing an additional 6,163 shares during the period. Kingsview Wealth Management LLC grew its holdings in American Tower by 13.8% during the first quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust's stock worth $7,613,000 after acquiring an additional 4,660 shares during the period. Tidal Investments LLC grew its holdings 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 purchasing an additional 4,430 shares during the last quarter. Cetera Advisors LLC lifted its stake in 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 buying an additional 9,275 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in American Tower by 5.3% in the 1st quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust's stock valued at $172,061,000 after purchasing an additional 43,531 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on AMT shares. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research report on Thursday, September 12th. TD Cowen increased their target price on American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Finally, Barclays raised their price target on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $235.85.
Get Our Latest Analysis on AMT
AMT stock opened at $211.26 on Friday. The company has a quick ratio of 0.81, 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. The business's 50-day moving average price is $228.14 and its 200-day moving average price is $208.69. The stock has a market cap of $98.68 billion, a P/E ratio of 89.14, a PEG ratio of 1.49 and a beta of 0.84.
American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.77 billion. The business's revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business posted $2.58 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.07%. American Tower's dividend payout ratio is presently 273.42%.
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.
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