Penserra Capital Management LLC Has $519,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Penserra Capital Management LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 94.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,233 shares of the real estate investment trust’s stock after selling 41,250 shares during the period. Penserra Capital Management LLC’s holdings in American Tower were worth $519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Balentine LLC acquired a new stake in shares of American Tower in the third quarter valued at about $586,000. Czech National Bank grew its holdings in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares during the last quarter. Tidal Investments LLC increased its position 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 worth $4,029,000 after buying an additional 4,430 shares during the period. Cetera Advisors LLC lifted 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 worth $8,157,000 after buying an additional 9,275 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in shares of American Tower by 46.8% in the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after acquiring an additional 8,195 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 0.6 %

Shares of NYSE AMT opened at $209.31 on Thursday. American Tower Co. has a 52-week low of $170.46 and a 52-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 business has a fifty day moving average of $216.94 and a two-hundred day moving average of $212.14. The stock has a market cap of $97.81 billion, a PE ratio of 88.32, a PEG ratio of 1.38 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for 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%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.58 earnings per share. As a group, equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. American Tower’s dividend payout ratio is 273.42%.

Analyst Upgrades and Downgrades

AMT has been the subject of several research analyst reports. Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Barclays lowered their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. TD Cowen lifted 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. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.