Ascent Group LLC Has $2.46 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Ascent Group LLC grew its holdings in American Tower Co. (NYSE:AMT) by 4.5% during the third quarter, Holdings Channel reports. The firm owned 10,587 shares of the real estate investment trust’s stock after acquiring an additional 460 shares during the quarter. Ascent Group LLC’s holdings in American Tower were worth $2,462,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Balentine LLC acquired a new position in American Tower during the 3rd quarter worth approximately $586,000. Point72 Hong Kong Ltd acquired a new position in American Tower during the 3rd quarter worth approximately $1,156,000. Czech National Bank raised its stake in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the period. Banque Cantonale Vaudoise raised its stake in American Tower by 46.8% during the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after buying an additional 8,195 shares during the period. Finally, Savvy Advisors Inc. raised its stake in American Tower by 268.2% during the 3rd quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after buying an additional 3,251 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Performance

AMT stock opened at $207.33 on Tuesday. The firm has a market cap of $96.88 billion, a PE ratio of 87.48, a P/E/G ratio of 1.39 and a beta of 0.83. 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 50 day moving average of $215.95 and a 200-day moving average of $212.61. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

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 the consensus estimate of $2.45 by ($1.56). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’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. As a group, sell-side analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors 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 yield of 3.13%. American Tower’s payout ratio is 273.42%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped 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. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Scotiabank decreased their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Finally, Barclays decreased their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Four 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.