Fisher Asset Management LLC Raises Stake in American Tower Co. (NYSE:AMT)

Fisher Asset Management LLC grew its stake in shares of American Tower Co. (NYSE:AMT) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,731,570 shares of the real estate investment trust’s stock after buying an additional 52,925 shares during the period. Fisher Asset Management LLC owned 0.37% of American Tower worth $402,694,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMT. Hartford Funds Management Co LLC raised its position in shares of American Tower by 44.6% in the third quarter. Hartford Funds Management Co LLC now owns 5,624 shares of the real estate investment trust’s stock worth $1,308,000 after buying an additional 1,735 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of American Tower by 11.5% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,325 shares of the real estate investment trust’s stock valued at $1,471,000 after acquiring an additional 654 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of American Tower by 14.7% during the third quarter. Centaurus Financial Inc. now owns 1,215 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 156 shares in the last quarter. Larson Financial Group LLC raised its stake in American Tower by 49.3% in the third quarter. Larson Financial Group LLC now owns 227 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 75 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. purchased a new stake in American Tower in the third quarter valued at approximately $219,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 0.7 %

Shares of American Tower stock opened at $204.31 on Monday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $95.47 billion, a P/E ratio of 86.21, a PEG ratio of 1.36 and a beta of 0.84. The company’s fifty day simple moving average is $218.75 and its two-hundred day simple moving average is $211.84.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS 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 company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the business earned $2.58 earnings per share. The business’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMT. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. TD Cowen upped their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada raised their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Scotiabank lowered 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 report on Wednesday, October 30th. Four equities 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.54.

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.