Fisher Asset Management LLC Purchases 52,925 Shares of American Tower Co. (NYSE:AMT)

Fisher Asset Management LLC lifted its position in American Tower Co. (NYSE:AMT) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,731,570 shares of the real estate investment trust’s stock after buying an additional 52,925 shares during the period. Fisher Asset Management LLC’s holdings in American Tower were worth $402,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Balentine LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at about $586,000. Czech National Bank increased its stake in shares of American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Tidal Investments LLC raised its holdings in American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares during the period. Cetera Advisors LLC lifted its position in American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after purchasing an additional 9,275 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in American Tower by 46.8% during 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. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Scotiabank decreased their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays decreased their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho increased their price target on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Royal Bank of Canada increased their price objective 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 equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Stock Up 0.7 %

NYSE AMT opened at $204.31 on Monday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm has a market capitalization of $95.47 billion, a price-to-earnings ratio of 86.21, a PEG ratio of 1.36 and a beta of 0.84. 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 company has a fifty day moving average of $218.75 and a two-hundred day moving average of $211.84.

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

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio 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.