American Tower Co. (NYSE:AMT) Shares Bought by Cape Cod Five Cents Savings Bank

Cape Cod Five Cents Savings Bank lifted its holdings in American Tower Co. (NYSE:AMT) by 6.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,738 shares of the real estate investment trust’s stock after purchasing an additional 994 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in American Tower were worth $3,893,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its stake in American Tower by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 141,328 shares of the real estate investment trust’s stock worth $32,867,000 after purchasing an additional 5,631 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in American Tower in the 3rd quarter valued at $2,545,000. MML Investors Services LLC increased its stake in shares of American Tower by 9.7% in the 3rd quarter. MML Investors Services LLC now owns 42,247 shares of the real estate investment trust’s stock worth $9,825,000 after acquiring an additional 3,739 shares during the last quarter. First National Bank of Omaha boosted its position in shares of American Tower by 13.0% during the 3rd quarter. First National Bank of Omaha now owns 18,109 shares of the real estate investment trust’s stock valued at $4,211,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Anson Funds Management LP acquired a new stake in American Tower during the third quarter worth about $2,260,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on AMT. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft upped their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective 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. Finally, Mizuho increased their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Price Performance

Shares of AMT opened at $207.10 on Monday. The firm has a market capitalization of $96.78 billion, a price-to-earnings ratio of 87.38, a PEG ratio of 1.38 and a beta of 0.83. The firm’s fifty day simple moving average is $213.32 and its 200-day simple moving average is $213.12. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The business 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 company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS. Equities analysts forecast 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 will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 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.