Metis Global Partners LLC Has $5.80 Million Position in American Tower Co. (NYSE:AMT)

Metis Global Partners LLC grew its holdings in shares of American Tower Co. (NYSE:AMT) by 3.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 24,934 shares of the real estate investment trust’s stock after acquiring an additional 864 shares during the period. Metis Global Partners LLC’s holdings in American Tower were worth $5,799,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation N.A. grew its position in shares of American Tower by 7.8% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,743 shares of the real estate investment trust’s stock valued at $405,000 after buying an additional 126 shares during the last quarter. KBC Group NV lifted its holdings in American Tower by 270.4% in the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock valued at $108,553,000 after buying an additional 340,742 shares during the period. Plato Investment Management Ltd grew its stake in shares of American Tower by 10.4% in the 3rd quarter. Plato Investment Management Ltd now owns 12,225 shares of the real estate investment trust’s stock valued at $2,840,000 after buying an additional 1,152 shares during the period. Firetrail Investments PTY Ltd. raised its holdings in American Tower by 0.7% during the third quarter. Firetrail Investments PTY Ltd. now owns 65,608 shares of the real estate investment trust’s stock worth $15,242,000 after buying an additional 457 shares during the last quarter. Finally, D Orazio & Associates Inc. lifted its stake in shares of American Tower by 17.6% in the third quarter. D Orazio & Associates Inc. now owns 1,620 shares of the real estate investment trust’s stock valued at $377,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Stock Up 0.7 %

Shares of American Tower stock opened at $195.16 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 50-day simple moving average of $224.08 and a two-hundred day simple moving average of $210.55. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $91.20 billion, a PE ratio of 82.35, a price-to-earnings-growth ratio of 1.29 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 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the firm posted $2.58 earnings per share. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

American Tower Company 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.