Teachers Retirement System of The State of Kentucky lessened its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 14.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 104,181 shares of the real estate investment trust's stock after selling 16,921 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in American Tower were worth $24,228,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Cultivar Capital Inc. bought a new position in shares of American Tower during the 2nd quarter worth about $25,000. Fortitude Family Office LLC boosted its position 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 valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in American Tower in the second quarter worth approximately $27,000. Hobbs Group Advisors LLC acquired a new position in American Tower in the 2nd quarter worth about $29,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the third quarter valued at $30,000. Institutional investors own 92.69% of the company's stock.
A number of research analysts have recently commented on AMT shares. Scotiabank dropped their price objective on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 30th. Mizuho raised their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research report on Thursday, September 12th. Royal Bank of Canada increased their target price on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Finally, Barclays cut their price target on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a research report on Monday, November 18th. Four 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 data from MarketBeat.com, American Tower has a consensus rating of "Moderate Buy" and a consensus target price of $235.54.
View Our Latest Analysis on AMT
Shares of AMT stock opened at $199.58 on Wednesday. The stock's 50-day simple moving average is $212.85 and its 200-day simple moving average is $213.27. The firm has a market capitalization of $93.26 billion, a price-to-earnings ratio of 84.21, a PEG ratio of 1.38 and a beta of 0.83. 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 Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.
American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.58 earnings per share. As a group, equities analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.25%. American Tower's dividend payout ratio (DPR) is presently 273.42%.
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.
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