American Tower Co. (NYSE:AMT) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its holdings in American Tower Co. (NYSE:AMT) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 6,371 shares of the real estate investment trust’s stock after buying an additional 396 shares during the quarter. Meeder Advisory Services Inc.’s holdings in American Tower were worth $1,482,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMT. Balentine LLC acquired a new position in American Tower during the third quarter worth $586,000. Czech National Bank raised its position in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after purchasing an additional 6,163 shares during the last quarter. Tidal Investments LLC lifted its stake in American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after buying an additional 4,430 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of American Tower by 29.0% during the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after acquiring an additional 9,275 shares during the last quarter. Finally, Savvy Advisors Inc. lifted its position in shares of American Tower by 268.2% in the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock valued at $1,038,000 after acquiring an additional 3,251 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMT shares. Deutsche Bank Aktiengesellschaft increased 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. Royal Bank of Canada raised their price target on shares of 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. upped 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. Mizuho raised their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, TD Cowen upped their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Price Performance

Shares of AMT opened at $198.84 on Tuesday. The firm has a 50-day simple moving average of $221.71 and a two-hundred day simple moving average of $211.24. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market cap of $92.92 billion, a PE ratio of 83.90, a P/E/G ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last announced 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 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 earned $2.58 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, analysts forecast that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors 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 yield of 3.26%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 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.