Chiron Investment Management LLC Purchases Shares of 37,906 American Tower Co. (NYSE:AMT)

Chiron Investment Management LLC purchased a new stake in American Tower Co. (NYSE:AMT) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 37,906 shares of the real estate investment trust’s stock, valued at approximately $8,815,000. American Tower accounts for 3.1% of Chiron Investment Management LLC’s holdings, making the stock its 7th biggest holding.

Several other large investors have also recently bought and sold shares of the company. Cultivar Capital Inc. bought a new stake in shares of American Tower during the 2nd quarter worth $25,000. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% during the 3rd 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 bought a new stake in shares of American Tower during the 2nd quarter worth $27,000. Hobbs Group Advisors LLC purchased a new position in American Tower in the 2nd quarter worth $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter worth $30,000. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

AMT stock opened at $199.58 on Wednesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. 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 50-day moving average price is $212.85 and its two-hundred day moving average price is $213.27. The stock has a market capitalization of $93.26 billion, a price-to-earnings ratio of 84.21, a PEG ratio of 1.38 and a beta of 0.83.

American Tower (NYSE:AMT) last announced 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). 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 analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts predict that American Tower Co. will post 10.08 earnings per share for the current 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 dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of analyst reports. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. 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. Royal Bank of Canada lifted their target price 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. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock 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.