American Tower Co. (NYSE:AMT) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 4,111,335 shares of the real estate investment trust’s stock after buying an additional 224,261 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in American Tower were worth $956,132,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cultivar Capital Inc. bought a new position in American Tower during the second quarter valued at about $25,000. Fortitude Family Office LLC lifted its holdings 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 valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of American Tower during the 2nd quarter valued at about $27,000. Hobbs Group Advisors LLC bought a new position in shares of American Tower during the 2nd quarter valued at about $29,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter worth approximately $30,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

NYSE AMT opened at $209.31 on Thursday. The company has a 50 day simple moving average of $216.94 and a 200-day simple moving average of $212.14. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market capitalization of $97.81 billion, a price-to-earnings ratio of 88.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (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 analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

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 $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Scotiabank reduced their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. TD Cowen boosted their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

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.