American Tower Co. (NYSE:AMT) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 913,089 shares of the real estate investment trust’s stock after selling 73,148 shares during the quarter. American Tower comprises about 2.4% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 4th biggest position. Duff & Phelps Investment Management Co. owned about 0.20% of American Tower worth $212,348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Balentine LLC acquired a new stake in American Tower in the 3rd quarter worth about $586,000. Point72 Hong Kong Ltd purchased a new position in shares of American Tower during the 3rd quarter worth about $1,156,000. Czech National Bank boosted its position in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the last quarter. Banque Cantonale Vaudoise grew its holdings in American Tower by 46.8% in the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after purchasing an additional 8,195 shares during the period. Finally, Savvy Advisors Inc. increased its position in American Tower by 268.2% during the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock worth $1,038,000 after purchasing an additional 3,251 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 1.0 %

AMT stock opened at $207.10 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50 day simple moving average of $213.32 and a 200-day simple moving average of $213.12. The company has a market capitalization of $96.78 billion, a P/E ratio of 87.38, a PEG ratio of 1.38 and a beta of 0.83. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly 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 business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is 273.42%.

Analysts Set New Price Targets

AMT has been the subject of several research reports. Royal Bank of Canada boosted their price objective on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays cut their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Scotiabank cut their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.