Raelipskie Partnership Takes Position in American Tower Co. (NYSE:AMT)

Raelipskie Partnership purchased a new position in shares of American Tower Co. (NYSE:AMT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,954 shares of the real estate investment trust’s stock, valued at approximately $1,152,000.

Several other institutional investors also recently bought and sold shares of AMT. Balentine LLC purchased a new position in shares of American Tower in the third quarter valued at approximately $586,000. Point72 Hong Kong Ltd acquired a new position in American Tower in the 3rd quarter valued at about $1,156,000. Czech National Bank raised its position in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares during the period. Banque Cantonale Vaudoise lifted its holdings in American Tower by 46.8% in the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after acquiring an additional 8,195 shares during the last quarter. Finally, Savvy Advisors Inc. grew its position 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 worth $1,038,000 after acquiring an additional 3,251 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on AMT. Deutsche Bank Aktiengesellschaft upped their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Barclays lowered their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Mizuho raised their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Stock Performance

Shares of American Tower stock opened at $207.10 on Monday. The business has a 50-day simple moving average of $213.32 and a 200-day simple moving average of $213.12. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a market cap of $96.78 billion, a PE ratio of 87.38, a P/E/G ratio of 1.38 and a beta of 0.83.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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). The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.13%. American Tower’s dividend payout ratio is currently 273.42%.

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.