Dynamic Technology Lab Private Ltd Acquires 3,437 Shares of American Tower Co. (NYSE:AMT)

Dynamic Technology Lab Private Ltd raised its holdings in American Tower Co. (NYSE:AMT) by 252.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,800 shares of the real estate investment trust’s stock after purchasing an additional 3,437 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in American Tower were worth $1,116,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in AMT. Cultivar Capital Inc. acquired a new position in American Tower in the 2nd quarter valued at $25,000. Fortitude Family Office LLC grew its stake in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new position in shares of American Tower in the 2nd quarter valued at approximately $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower during the 2nd quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in American Tower during the third quarter valued at approximately $30,000. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 0.3 %

Shares of American Tower stock opened at $208.09 on Wednesday. The stock has a market capitalization of $97.24 billion, a PE ratio of 87.80, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a 50 day moving average price of $217.47 and a two-hundred day moving average price of $212.16. 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 (NYSE:AMT) last released its quarterly earnings data 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the business posted $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AMT shares. Scotiabank reduced their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays lowered their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Four 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 stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average target price of $235.54.

American Tower Company Profile

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.