MML Investors Services LLC Boosts Holdings in American Tower Co. (NYSE:AMT)

MML Investors Services LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,247 shares of the real estate investment trust's stock after purchasing an additional 3,739 shares during the quarter. MML Investors Services LLC's holdings in American Tower were worth $9,825,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. NBT Bank N A NY raised its position in shares of American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust's stock worth $329,000 after purchasing an additional 54 shares during the last quarter. CX Institutional raised its holdings in shares of American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock valued at $450,000 after acquiring an additional 54 shares during the last quarter. O Brien Greene & Co. Inc lifted its position in shares of American Tower by 2.3% in the second quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust's stock valued at $481,000 after acquiring an additional 55 shares in the last quarter. Palumbo Wealth Management LLC boosted its stake in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock worth $864,000 after acquiring an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its position in shares of American Tower by 4.9% during the second quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust's stock worth $242,000 after purchasing an additional 58 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 0.0 %

Shares of NYSE:AMT traded up $0.09 during midday trading on Wednesday, reaching $199.62. 2,356,801 shares of the company's stock were exchanged, compared to its average volume of 2,325,481. The firm's 50 day simple moving average is $212.20 and its two-hundred day simple moving average is $213.37. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $93.28 billion, a price-to-earnings ratio of 84.31, a P/E/G ratio of 1.38 and a beta of 0.83.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.25%. American Tower's dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a research note on Monday, November 18th. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Finally, 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. Four 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. According to data from MarketBeat.com, American Tower presently has a consensus rating of "Moderate Buy" and an average price target of $235.54.

About American Tower

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.