Border to Coast Pensions Partnership Ltd Has $70.05 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Border to Coast Pensions Partnership Ltd lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 18.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 382,180 shares of the real estate investment trust's stock after purchasing an additional 60,385 shares during the quarter. American Tower comprises 1.4% of Border to Coast Pensions Partnership Ltd's portfolio, making the stock its 18th largest position. Border to Coast Pensions Partnership Ltd owned approximately 0.08% of American Tower worth $70,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AMT. Fortitude Family Office LLC boosted its position in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after buying an additional 78 shares during the period. Fairscale Capital LLC acquired a new position in American Tower during the 2nd quarter worth $27,000. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the third quarter valued at about $30,000. Hara Capital LLC acquired a new position in American Tower during the 3rd quarter valued at about $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the 3rd quarter worth approximately $34,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AMT shares. StockNews.com downgraded American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. BMO Capital Markets lowered their target price on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, September 23rd. Barclays reduced their target price on shares of American Tower from $251.00 to $215.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Finally, Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a "sector outperform" rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.67.

American Tower Stock Up 0.2 %

Shares of AMT stock traded up $0.44 during trading on Friday, hitting $190.51. 2,882,489 shares of the company were exchanged, compared to its average volume of 2,167,840. The firm has a market capitalization of $89.02 billion, a price-to-earnings ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The business's 50-day simple moving average is $192.86 and its 200 day simple moving average is $211.29. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last issued 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 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%. The company's quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $2.58 EPS. As a group, analysts forecast that American Tower Co. will post 10.15 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 issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.40%. American Tower's dividend payout ratio is 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.