American Tower Co. (NYSE:AMT) Shares Bought by BluePath Capital Management LLC

BluePath Capital Management LLC increased its stake in American Tower Co. (NYSE:AMT) by 28.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,003 shares of the real estate investment trust’s stock after purchasing an additional 1,109 shares during the period. BluePath Capital Management LLC’s holdings in American Tower were worth $885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Balentine LLC acquired a new position in shares of American Tower during the third quarter valued at $586,000. Nordea Investment Management AB lifted its position in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in American Tower in the 3rd quarter worth about $1,156,000. Czech National Bank increased its stake 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 valued at $22,128,000 after purchasing an additional 6,163 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in shares of 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 buying an additional 8,195 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Trading Up 0.8 %

Shares of NYSE:AMT opened at $180.31 on Thursday. The stock has a market capitalization of $84.26 billion, a price-to-earnings ratio of 76.08, a PEG ratio of 1.16 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a 50 day moving average price of $193.58 and a 200 day moving average price of $211.68. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last issued its 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 company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The business’s revenue was down 10.5% compared to the same quarter last year. On average, research analysts anticipate that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is presently 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.