American Tower Co. (NYSE:AMT) Shares Acquired by Premier Fund Managers Ltd

Premier Fund Managers Ltd boosted its stake in shares of American Tower Co. (NYSE:AMT) by 21.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,101 shares of the real estate investment trust’s stock after purchasing an additional 18,753 shares during the quarter. Premier Fund Managers Ltd’s holdings in American Tower were worth $24,661,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMT. Fortitude Family Office LLC lifted its stake in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in American Tower in the second quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new stake in American Tower during the third quarter worth approximately $30,000. Cultivar Capital Inc. acquired a new position in shares of American Tower in the 2nd quarter valued at $25,000. Finally, Hara Capital LLC purchased a new stake in American Tower in the third quarter valued at $31,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 1.2 %

AMT opened at $201.17 on Wednesday. The business has a 50-day moving average of $220.88 and a two-hundred day moving average of $211.37. 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 Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a market capitalization of $94.00 billion, a price-to-earnings ratio of 84.88, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during 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 was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 EPS. On average, research analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.22%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays lowered their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, Mizuho lifted their target price 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 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

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.