Harber Asset Management LLC Has $15.56 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Harber Asset Management LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 66,893 shares of the real estate investment trust’s stock after buying an additional 2,967 shares during the period. American Tower makes up approximately 4.6% of Harber Asset Management LLC’s holdings, making the stock its 6th largest holding. Harber Asset Management LLC’s holdings in American Tower were worth $15,557,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AMT. Heitman Real Estate Securities LLC grew its holdings in American Tower by 66.4% during the third quarter. Heitman Real Estate Securities LLC now owns 229,657 shares of the real estate investment trust’s stock worth $53,409,000 after acquiring an additional 91,635 shares during the period. Hilltop Holdings Inc. increased its holdings in American Tower by 279.5% during the 3rd quarter. Hilltop Holdings Inc. now owns 5,742 shares of the real estate investment trust’s stock worth $1,335,000 after purchasing an additional 4,229 shares during the period. Holocene Advisors LP increased its holdings in shares of American Tower by 13.0% in the 3rd quarter. Holocene Advisors LP now owns 13,855 shares of the real estate investment trust’s stock valued at $3,222,000 after acquiring an additional 1,594 shares during the last quarter. Concentric Capital Strategies LP acquired a new stake in American Tower during the 3rd quarter worth approximately $791,000. Finally, Ascent Group LLC lifted its holdings in shares of American Tower by 4.5% in the 3rd quarter. Ascent Group LLC now owns 10,587 shares of the real estate investment trust’s stock valued at $2,462,000 after buying an additional 460 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMT shares. Royal Bank of Canada lifted their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Barclays lowered their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Mizuho raised their price target on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Down 0.8 %

Shares of NYSE AMT opened at $207.33 on Tuesday. 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 stock has a market capitalization of $96.88 billion, a price-to-earnings ratio of 87.48, a price-to-earnings-growth ratio of 1.39 and a beta of 0.83. The firm has a 50-day moving average price of $215.95 and a 200 day moving average price of $212.61. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The company 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 company’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.13%. American Tower’s payout ratio 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.