Thompson Siegel & Walmsley LLC Purchases New Shares in American Tower Co. (NYSE:AMT)

Thompson Siegel & Walmsley LLC acquired a new position in shares of American Tower Co. (NYSE:AMT) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,002 shares of the real estate investment trust’s stock, valued at approximately $233,000.

A number of other hedge funds also recently bought and sold shares of AMT. LRI Investments LLC purchased a new position in American Tower during the 1st quarter worth approximately $93,000. Epoch Investment Partners Inc. raised its position in American Tower by 389.7% during the first quarter. Epoch Investment Partners Inc. now owns 325,324 shares of the real estate investment trust’s stock valued at $64,281,000 after buying an additional 258,894 shares during the period. Lazard Asset Management LLC lifted its stake in American Tower by 1,185.8% in the 1st quarter. Lazard Asset Management LLC now owns 64,533 shares of the real estate investment trust’s stock worth $12,750,000 after acquiring an additional 59,514 shares in the last quarter. Steel Grove Capital Advisors LLC acquired a new stake in American Tower during the 1st quarter worth about $297,000. Finally, BOKF NA grew its stake in American Tower by 2.7% during the 1st quarter. BOKF NA now owns 6,248 shares of the real estate investment trust’s stock valued at $1,206,000 after acquiring an additional 164 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on AMT shares. Scotiabank decreased their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. BMO Capital Markets lowered their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Trading Up 0.7 %

Shares of AMT stock opened at $204.32 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market cap of $95.48 billion, a PE ratio of 86.21, a price-to-earnings-growth ratio of 1.35 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The business’s 50 day moving average is $218.75 and its two-hundred day moving average is $211.42.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (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 analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s quarterly 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 earnings per share. Equities analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed 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 of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.17%. American Tower’s dividend payout ratio is presently 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.