Financial Counselors Inc. Purchases 968 Shares of American Tower Co. (NYSE:AMT)

Financial Counselors Inc. grew its position in American Tower Co. (NYSE:AMT) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,327 shares of the real estate investment trust’s stock after purchasing an additional 968 shares during the period. Financial Counselors Inc.’s holdings in American Tower were worth $31,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Balentine LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $586,000. Czech National Bank lifted its position in 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 worth $22,128,000 after buying an additional 6,163 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of American Tower by 27.7% during the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after buying an additional 4,430 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of American Tower by 29.0% in the 1st quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its position in shares of 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. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMT shares. Barclays reduced their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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. 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 report on Monday, September 23rd. Mizuho increased their price target on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Four 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Performance

Shares of AMT stock opened at $209.31 on Thursday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market capitalization of $97.81 billion, a price-to-earnings ratio of 88.32, a PEG ratio of 1.38 and a beta of 0.84. The company has a 50-day simple moving average of $216.94 and a 200 day simple moving average of $212.14. 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 issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, sell-side analysts predict that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

American Tower 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.