MML Investors Services LLC Has $8.12 Million Stock Holdings in American Tower Co. (NYSE:AMT)

MML Investors Services LLC increased its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,293 shares of the real estate investment trust's stock after buying an additional 2,046 shares during the period. MML Investors Services LLC's holdings in American Tower were worth $8,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. Cohen & Steers Inc. increased its holdings in shares of American Tower by 21.8% during the 4th quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after acquiring an additional 3,437,602 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of American Tower by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust's stock valued at $2,074,956,000 after purchasing an additional 129,192 shares during the last quarter. FMR LLC raised its position in shares of American Tower by 5.0% in the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock valued at $2,050,390,000 after purchasing an additional 537,136 shares during the period. Capital Research Global Investors lifted its stake in shares of American Tower by 66.5% during the 4th quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust's stock worth $1,570,547,000 after buying an additional 3,421,413 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of American Tower during the 4th quarter worth about $1,164,851,000. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of AMT stock traded down $0.27 during trading hours on Friday, reaching $210.64. The company's stock had a trading volume of 2,464,545 shares, compared to its average volume of 2,485,503. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. 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 market capitalization of $98.47 billion, a price-to-earnings ratio of 88.88, a PEG ratio of 1.29 and a beta of 0.87. The firm's 50 day simple moving average is $210.83 and its 200-day simple moving average is $202.11.

American Tower (NYSE:AMT - Get Free Report) last issued its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Sell-side analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, April 11th. This is an increase from American Tower's previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.23%. American Tower's dividend payout ratio is 141.37%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMT. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. BMO Capital Markets boosted their price target on American Tower from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. Finally, Wells Fargo & Company raised shares of American Tower from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $210.00 to $230.00 in a research report on Monday, March 17th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of "Buy" and a consensus target price of $233.07.

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.