Banque Cantonale Vaudoise Purchases 8,195 Shares of American Tower Co. (NYSE:AMT)

Banque Cantonale Vaudoise raised its position in American Tower Co. (NYSE:AMT) by 46.8% during the third quarter, Holdings Channel reports. The fund owned 25,715 shares of the real estate investment trust’s stock after acquiring an additional 8,195 shares during the period. Banque Cantonale Vaudoise’s holdings in American Tower were worth $5,980,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. NBT Bank N A NY lifted its position in shares of American Tower by 3.3% in the second quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after acquiring an additional 54 shares in the last quarter. CX Institutional increased its holdings in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the last quarter. O Brien Greene & Co. Inc increased its holdings in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the last quarter. Palumbo Wealth Management LLC increased its holdings in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its holdings in shares of American Tower by 4.9% in the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Scotiabank dropped their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given 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 Stock Up 1.2 %

American Tower stock opened at $198.84 on Tuesday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $92.92 billion, a P/E ratio of 83.90, a PEG ratio of 1.31 and a beta of 0.84. The stock has a 50-day simple moving average of $221.71 and a 200-day simple moving average of $211.24.

American Tower (NYSE:AMT) last posted its earnings results 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.26%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

American Tower Company 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.