Nordea Investment Management AB Raises Position in American Tower Co. (NYSE:AMT)

Nordea Investment Management AB grew its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 28.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,421,095 shares of the real estate investment trust's stock after acquiring an additional 314,769 shares during the quarter. Nordea Investment Management AB owned about 0.30% of American Tower worth $260,743,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new stake in American Tower in the second quarter worth $27,000. Northwest Investment Counselors LLC purchased a new position in American Tower during the third quarter worth $30,000. Hara Capital LLC bought a new position in American Tower during the third quarter valued at $31,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of American Tower in the third quarter valued at $34,000. Institutional investors own 92.69% of the company's stock.

American Tower Stock Down 1.4 %

Shares of NYSE AMT traded down $2.57 during midday trading on Monday, reaching $179.99. 2,262,441 shares of the company's stock traded hands, compared to its average volume of 2,407,547. The company has a market cap of $84.11 billion, a price-to-earnings ratio of 75.95, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year 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 stock's 50 day simple moving average is $198.67 and its 200-day simple moving average is $212.49.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations 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 was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 earnings per share. On average, analysts predict 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. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, December 27th. American Tower's payout ratio is 273.42%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a research note on Thursday, September 12th. Finally, The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $235.08.

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.