Quintet Private Bank Europe S.A. Buys 23,094 Shares of American Tower Co. (NYSE:AMT)

Quintet Private Bank Europe S.A. grew its stake in American Tower Co. (NYSE:AMT) by 22.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 124,628 shares of the real estate investment trust’s stock after acquiring an additional 23,094 shares during the quarter. American Tower makes up approximately 1.7% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 21st biggest holding. Quintet Private Bank Europe S.A.’s holdings in American Tower were worth $28,984,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of AMT. Ameriprise Financial Inc. lifted its stake in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC increased its holdings in American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of American Tower by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after acquiring an additional 965,938 shares in the last quarter. M&G Plc acquired a new stake in American Tower during the first quarter worth approximately $164,300,000. Finally, International Assets Investment Management LLC raised its position in shares of American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 0.5 %

NYSE AMT traded up $0.99 during trading on Monday, reaching $212.25. 491,689 shares of the company’s stock traded hands, compared to its average volume of 2,266,145. The company’s 50 day simple moving average is $228.14 and its two-hundred day simple moving average is $209.20. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.81. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market cap of $99.14 billion, a price-to-earnings ratio of 89.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84.

American Tower (NYSE:AMT) last released its earnings results 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the business earned $2.58 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

AMT has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Barclays boosted their target price on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen upped their price objective on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $235.85.

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.