BNP PARIBAS ASSET MANAGEMENT Holding S.A. Reduces Holdings in American Tower Co. (NYSE:AMT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 2.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 847,828 shares of the real estate investment trust’s stock after selling 23,370 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in American Tower were worth $197,171,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. King Luther Capital Management Corp grew its stake in shares of American Tower by 3.5% during the third quarter. King Luther Capital Management Corp now owns 225,542 shares of the real estate investment trust’s stock worth $52,452,000 after acquiring an additional 7,685 shares during the last quarter. Cornerstone Advisors LLC boosted its position in American Tower by 51.5% in the third quarter. Cornerstone Advisors LLC now owns 10,300 shares of the real estate investment trust’s stock valued at $2,395,000 after buying an additional 3,500 shares during the last quarter. Payden & Rygel boosted its position in American Tower by 0.4% in the third quarter. Payden & Rygel now owns 68,200 shares of the real estate investment trust’s stock valued at $15,861,000 after buying an additional 300 shares during the last quarter. Moors & Cabot Inc. boosted its position in American Tower by 9.2% in the third quarter. Moors & Cabot Inc. now owns 2,725 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 229 shares during the last quarter. Finally, Altman Advisors Inc. purchased a new stake in American Tower in the 3rd quarter worth approximately $1,780,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. TD Cowen upped their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. 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 research note on Wednesday, August 14th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Stock Down 0.1 %

Shares of NYSE:AMT opened at $200.88 on Thursday. 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 business has a fifty day moving average of $220.12 and a two-hundred day moving average of $211.30. The stock has a market cap of $93.87 billion, a P/E ratio of 84.76, a PEG ratio of 1.34 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.

American Tower (NYSE:AMT) last issued its 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 analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 earnings per share. On average, research analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders 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 dividend yield of 3.23%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 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.