Advisors Asset Management Inc. Boosts Position in American Tower Co. (NYSE:AMT)

Advisors Asset Management Inc. lifted its position in American Tower Co. (NYSE:AMT - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,750 shares of the real estate investment trust's stock after purchasing an additional 3,741 shares during the period. Advisors Asset Management Inc.'s holdings in American Tower were worth $24,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AMT. Ameriprise Financial Inc. boosted its position in American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of American Tower by 8.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust's stock valued at $720,206,000 after buying an additional 302,676 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in American Tower by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust's stock valued at $643,571,000 after acquiring an additional 464,429 shares during the period. Canada Pension Plan Investment Board increased its holdings in American Tower by 4.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,536,255 shares of the real estate investment trust's stock worth $298,617,000 after acquiring an additional 69,300 shares in the last quarter. Finally, ClearBridge Investments Ltd raised its position in American Tower by 6.2% during the second quarter. ClearBridge Investments Ltd now owns 1,442,759 shares of the real estate investment trust's stock worth $280,443,000 after acquiring an additional 84,180 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Down 0.1 %

NYSE:AMT traded down $0.27 on Wednesday, reaching $200.88. 2,243,407 shares of the company's stock were exchanged, compared to its average volume of 2,323,926. The firm has a market capitalization of $93.87 billion, a price-to-earnings ratio of 84.88, a price-to-earnings-growth ratio of 1.31 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. 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 business has a fifty day moving average of $220.88 and a 200-day moving average of $211.37.

American Tower (NYSE:AMT - Get Free Report) last released 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). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower's quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. As a group, analysts expect that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.23%. American Tower's payout ratio is 273.42%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. 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 report on Wednesday, July 31st. Royal Bank of Canada boosted their price objective on American Tower from $225.00 to $236.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. StockNews.com downgraded American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Scotiabank dropped 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. Finally, Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.