American Tower Co. (NYSE:AMT) is Harber Asset Management LLC’s 6th Largest Position

Harber Asset Management LLC lifted its position in shares of American Tower Co. (NYSE:AMT) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,893 shares of the real estate investment trust’s stock after acquiring an additional 2,967 shares during the period. American Tower comprises approximately 4.6% of Harber Asset Management LLC’s holdings, making the stock its 6th largest holding. Harber Asset Management LLC’s holdings in American Tower were worth $15,557,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its stake in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of American Tower during the second quarter worth $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower in the third quarter valued at about $30,000. Cultivar Capital Inc. bought a new stake in shares of American Tower in the second quarter valued at about $25,000. Finally, Hara Capital LLC bought a new stake in American Tower during the third quarter worth about $31,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMT shares. Barclays reduced their price target 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 downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank reduced 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 research report on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Performance

American Tower stock opened at $207.33 on Tuesday. 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 company has a market cap of $96.88 billion, a PE ratio of 87.48, a PEG ratio of 1.39 and a beta of 0.83. The company’s 50-day moving average is $215.95 and its two-hundred day moving average is $212.61. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings data 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 firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business earned $2.58 EPS. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 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.