Quantbot Technologies LP Invests $1.84 Million in American Tower Co. (NYSE:AMT)

Quantbot Technologies LP acquired a new stake in American Tower Co. (NYSE:AMT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,926 shares of the real estate investment trust’s stock, valued at approximately $1,843,000.

Other large investors have also made changes to their positions in the company. FMR LLC increased its stake in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Dai ichi Life Insurance Company Ltd increased its position in shares of American Tower by 50.2% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 62,310 shares of the real estate investment trust’s stock worth $14,491,000 after acquiring an additional 20,825 shares in the last quarter. Patton Albertson Miller Group LLC acquired a new stake in shares of American Tower during the third quarter worth $215,000. Loomis Sayles & Co. L P lifted its position in American Tower by 16.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 44,973 shares of the real estate investment trust’s stock valued at $10,459,000 after acquiring an additional 6,236 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in American Tower in the 3rd quarter worth $1,147,000. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho boosted 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 lifted their price target on shares of American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Finally, Scotiabank reduced 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. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Price Performance

NYSE:AMT opened at $209.00 on Friday. The stock’s 50 day moving average price is $215.95 and its two-hundred day moving average price is $212.29. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market capitalization of $97.66 billion, a price-to-earnings ratio of 88.19, a P/E/G ratio of 1.39 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.

American Tower (NYSE:AMT) last issued 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). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 earnings per share. On average, analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

American Tower 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.