Ancora Advisors LLC acquired a new stake in American Tower Corp (NYSE:AMT) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,075 shares of the real estate investment trust’s stock, valued at approximately $157,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Financial Partners Inc. boosted its stake in shares of American Tower by 1.3% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 23,639 shares of the real estate investment trust’s stock valued at $3,435,000 after buying an additional 314 shares during the period. D.A. Davidson & CO. lifted its stake in American Tower by 2.3% during the third quarter. D.A. Davidson & CO. now owns 13,901 shares of the real estate investment trust’s stock worth $2,020,000 after purchasing an additional 319 shares during the last quarter. Wallington Asset Management LLC lifted its stake in American Tower by 0.4% during the second quarter. Wallington Asset Management LLC now owns 82,040 shares of the real estate investment trust’s stock worth $11,828,000 after purchasing an additional 340 shares during the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC lifted its stake in American Tower by 1.9% during the third quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 17,970 shares of the real estate investment trust’s stock worth $2,611,000 after purchasing an additional 340 shares during the last quarter. Finally, Appleton Partners Inc. MA lifted its stake in American Tower by 0.6% during the third quarter. Appleton Partners Inc. MA now owns 65,875 shares of the real estate investment trust’s stock worth $9,572,000 after purchasing an additional 370 shares during the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.

Several research firms recently weighed in on AMT. Zacks Investment Research upgraded American Tower from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Citigroup cut American Tower from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $161.00 to $176.00 in a research note on Wednesday, October 31st. Royal Bank of Canada boosted their target price on American Tower to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, November 1st. Barclays boosted their target price on American Tower from $156.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 31st. Finally, Bank of America set a $172.00 target price on American Tower and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $165.31.

Shares of NYSE AMT opened at $167.63 on Friday. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.72 and a quick ratio of 0.72. American Tower Corp has a twelve month low of $130.37 and a twelve month high of $167.85. The company has a market capitalization of $72.01 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.58 and a beta of 0.62.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.02. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, sell-side analysts anticipate that American Tower Corp will post 7.58 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Thursday, December 27th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.00%. This is a boost from American Tower’s previous quarterly dividend of $0.79. American Tower’s payout ratio is currently 49.53%.

In other news, Director David E. Sharbutt sold 813 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $160.88, for a total value of $130,795.44. Following the transaction, the director now owns 3,968 shares of the company’s stock, valued at $638,371.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Robert Joseph Meyer, Jr. sold 44,959 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $156.43, for a total value of $7,032,936.37. The disclosure for this sale can be found here. In the last quarter, insiders sold 338,360 shares of company stock valued at $53,958,953. 0.87% of the stock is owned by company insiders.

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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 170,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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