Point72 Hong Kong Ltd Buys Shares of 4,972 American Tower Co. (NYSE:AMT)

Point72 Hong Kong Ltd bought a new stake in American Tower Co. (NYSE:AMT) in the third quarter, Holdings Channel.com reports. The firm bought 4,972 shares of the real estate investment trust’s stock, valued at approximately $1,156,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. Fortitude Family Office LLC lifted its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of American Tower in the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC purchased a new position in American Tower during the third quarter worth approximately $30,000. Cultivar Capital Inc. acquired a new position in American Tower during the second quarter worth $25,000. Finally, Hara Capital LLC acquired a new position in shares of American Tower during the 3rd quarter valued at about $31,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays cut 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 target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Mizuho upped their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Trading Down 0.1 %

Shares of AMT stock opened at $209.00 on Monday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a 50 day moving average price of $215.95 and a 200 day moving average price of $212.61. The stock has a market capitalization of $97.66 billion, a P/E ratio of 88.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84. 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 posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The business’s revenue was down 10.5% on a year-over-year basis. Equities research analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.10%. American Tower’s dividend payout ratio (DPR) is 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.