Zions Bancorporation N.A. Has $405,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Zions Bancorporation N.A. lifted its stake in American Tower Co. (NYSE:AMT) by 7.8% in the third quarter, HoldingsChannel reports. The firm owned 1,743 shares of the real estate investment trust’s stock after purchasing an additional 126 shares during the period. Zions Bancorporation N.A.’s holdings in American Tower were worth $405,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Balentine LLC acquired a new stake in shares of American Tower during the third quarter valued at approximately $586,000. Czech National Bank lifted its holdings in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of American Tower by 27.7% in the first quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock valued at $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Cetera Advisors LLC grew 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 buying an additional 9,275 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in American Tower by 12.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 279,999 shares of the real estate investment trust’s stock valued at $54,426,000 after buying an additional 30,844 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $196.45 on Friday. The business’s 50-day simple moving average is $223.30 and its 200-day simple moving average is $210.44. 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 firm has a market cap of $91.80 billion, a price-to-earnings ratio of 82.89, a P/E/G ratio of 1.30 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 EPS. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders 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 3.30%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft upped their price objective 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. TD Cowen lifted their target price on shares of American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped 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. Finally, Barclays lifted their price objective on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower 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.