BNP PARIBAS ASSET MANAGEMENT Holding S.A. Trims Stock Position in American Tower Co. (NYSE:AMT)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its holdings in shares of American Tower Co. (NYSE:AMT) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 847,828 shares of the real estate investment trust’s stock after selling 23,370 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.18% of American Tower worth $197,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMT. Edgestream Partners L.P. increased its holdings in American Tower by 110.4% in the 1st quarter. Edgestream Partners L.P. now owns 2,321 shares of the real estate investment trust’s stock worth $459,000 after acquiring an additional 1,218 shares in the last quarter. Natixis increased its holdings in American Tower by 2.6% in the 1st quarter. Natixis now owns 18,175 shares of the real estate investment trust’s stock worth $3,591,000 after acquiring an additional 468 shares in the last quarter. Crewe Advisors LLC purchased a new stake in American Tower in the 1st quarter worth approximately $69,000. Axxcess Wealth Management LLC increased its holdings in American Tower by 6.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 6,842 shares of the real estate investment trust’s stock worth $1,352,000 after acquiring an additional 414 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in American Tower by 2.5% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,391 shares of the real estate investment trust’s stock worth $1,460,000 after acquiring an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. 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. BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. 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. Finally, Barclays dropped their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday. Four research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Down 0.1 %

NYSE:AMT opened at $200.88 on Thursday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market cap of $93.87 billion, a price-to-earnings ratio of 84.76, a price-to-earnings-growth ratio of 1.34 and a beta of 0.84. The stock has a fifty day simple moving average of $220.12 and a 200-day simple moving average of $211.30. 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 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 return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 earnings per share. Analysts anticipate that American Tower Co. will post 10.08 EPS for the current 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 issued 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 yield of 3.23%. American Tower’s dividend payout ratio is presently 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.