Quintet Private Bank Europe S.A. Buys 23,094 Shares of American Tower Co. (NYSE:AMT)

Quintet Private Bank Europe S.A. increased its position in shares of American Tower Co. (NYSE:AMT) by 22.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,628 shares of the real estate investment trust’s stock after buying an additional 23,094 shares during the period. American Tower accounts for 1.7% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 21st biggest holding. Quintet Private Bank Europe S.A.’s holdings in American Tower were worth $28,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Norden Group LLC bought a new position in American Tower during the 1st quarter valued at $463,000. Lincoln National Corp boosted its holdings in shares of American Tower by 6.4% in the 1st quarter. Lincoln National Corp now owns 14,514 shares of the real estate investment trust’s stock worth $2,868,000 after purchasing an additional 873 shares in the last quarter. FORA Capital LLC bought a new stake in American Tower in the first quarter worth $465,000. Central Pacific Bank Trust Division purchased a new position in shares of American Tower in the first quarter valued at about $844,000. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of American Tower by 14.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 138,048 shares of the real estate investment trust’s stock valued at $27,277,000 after purchasing an additional 17,424 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 0.5 %

Shares of NYSE:AMT traded up $0.99 during mid-day trading on Monday, hitting $212.25. 491,689 shares of the company traded hands, compared to its average volume of 2,266,145. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm’s 50 day simple moving average is $228.14 and its 200 day simple moving average is $209.20. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.81 and a current ratio of 0.69. The firm has a market cap of $99.14 billion, a P/E ratio of 89.14, a PEG ratio of 1.49 and a beta of 0.84.

American Tower (NYSE:AMT) last announced 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). The business had revenue of $2.52 billion for 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 firm’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 EPS. On average, equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.05%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

AMT has been the topic of a number of research analyst reports. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays upped their price target on shares of American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada raised their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Four 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, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

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.