Voya Investment Management LLC Cuts Stake in American Tower Co. (NYSE:AMT)

Voya Investment Management LLC trimmed its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 33.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 700,949 shares of the real estate investment trust's stock after selling 354,739 shares during the quarter. Voya Investment Management LLC owned 0.15% of American Tower worth $128,561,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of AMT. Glenview Trust co lifted its position in shares of American Tower by 0.8% in the 4th quarter. Glenview Trust co now owns 7,056 shares of the real estate investment trust's stock worth $1,294,000 after purchasing an additional 54 shares during the period. CreativeOne Wealth LLC grew its stake in American Tower by 2.1% in the fourth quarter. CreativeOne Wealth LLC now owns 2,601 shares of the real estate investment trust's stock worth $477,000 after purchasing an additional 54 shares during the period. Precedent Wealth Partners LLC raised its holdings in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 58 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 61 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its position in American Tower by 2.9% during the 4th quarter. Calamos Wealth Management LLC now owns 2,172 shares of the real estate investment trust's stock valued at $398,000 after acquiring an additional 61 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Performance

American Tower stock traded down $0.01 during mid-day trading on Monday, reaching $210.81. 3,390,231 shares of the stock traded hands, compared to its average volume of 2,489,122. The stock has a market capitalization of $98.54 billion, a PE ratio of 88.95, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. 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 business's 50-day moving average is $210.83 and its 200-day moving average is $202.00. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data 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. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the business posted $2.29 EPS. American Tower's revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders 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 represents a $6.80 annualized dividend and a yield of 3.23%. This is an increase from American Tower's previous quarterly dividend of $1.62. American Tower's payout ratio is currently 141.37%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Scotiabank reaffirmed an "outperform" rating on shares of American Tower in a research note on Tuesday, April 22nd. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Citigroup lifted their price target on American Tower from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Hsbc Global Res raised shares of American Tower to a "strong-buy" rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets upped their target price on shares of American Tower from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Two equities research 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 stock. According to MarketBeat, the company currently has a consensus 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.