Dynamic Technology Lab Private Ltd Acquires 3,437 Shares of American Tower Co. (NYSE:AMT)

Dynamic Technology Lab Private Ltd boosted its stake in shares of American Tower Co. (NYSE:AMT) by 252.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,800 shares of the real estate investment trust’s stock after buying an additional 3,437 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in American Tower were worth $1,116,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC increased its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new stake in shares of American Tower in the second quarter valued at $27,000. Hobbs Group Advisors LLC purchased a new position in shares of American Tower during the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $208.09 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a fifty day moving average of $217.47 and a 200 day moving average of $212.16. The firm has a market capitalization of $97.24 billion, a price-to-earnings ratio of 87.80, a PEG ratio of 1.38 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the business posted $2.58 EPS. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, research analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

AMT has been the subject of a number of research reports. Mizuho increased their target price 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. Barclays lowered their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Scotiabank reduced their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four 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’s stock. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $235.54.

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.