Heitman Real Estate Securities LLC Has $53.41 Million Stock Position in American Tower Co. (NYSE:AMT)

Heitman Real Estate Securities LLC boosted its stake in shares of American Tower Co. (NYSE:AMT) by 66.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,657 shares of the real estate investment trust’s stock after buying an additional 91,635 shares during the quarter. American Tower makes up approximately 2.9% of Heitman Real Estate Securities LLC’s portfolio, making the stock its 12th biggest position. Heitman Real Estate Securities LLC’s holdings in American Tower were worth $53,409,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilltop Holdings Inc. boosted its position in American Tower by 279.5% during the third quarter. Hilltop Holdings Inc. now owns 5,742 shares of the real estate investment trust’s stock valued at $1,335,000 after acquiring an additional 4,229 shares during the last quarter. Holocene Advisors LP grew its holdings in American Tower by 13.0% in the third quarter. Holocene Advisors LP now owns 13,855 shares of the real estate investment trust’s stock worth $3,222,000 after purchasing an additional 1,594 shares during the period. Concentric Capital Strategies LP bought a new stake in American Tower in the 3rd quarter valued at about $791,000. Ascent Group LLC raised its position in shares of American Tower by 4.5% during the third quarter. Ascent Group LLC now owns 10,587 shares of the real estate investment trust’s stock worth $2,462,000 after purchasing an additional 460 shares during the period. Finally, Benjamin Edwards Inc. acquired a new position in American Tower during the third quarter worth $2,329,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AMT. Wells Fargo & Company lowered 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 research report 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 on the stock in a report on Wednesday, October 30th. Scotiabank dropped their target price on shares of 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. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Stock Performance

NYSE AMT opened at $207.33 on Tuesday. The company has a 50-day simple moving average of $215.95 and a two-hundred day simple moving average of $212.61. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market cap of $96.88 billion, a price-to-earnings ratio of 87.48, a PEG ratio of 1.39 and a beta of 0.83. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the company posted $2.58 EPS. On average, equities analysts forecast 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. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.13%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

About American Tower

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.