CCLA Investment Management Grows Stock Holdings in American Tower Co. (NYSE:AMT)

CCLA Investment Management grew its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 432,891 shares of the real estate investment trust's stock after buying an additional 22,523 shares during the period. CCLA Investment Management owned approximately 0.09% of American Tower worth $79,344,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. CX Institutional lifted its stake in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock valued at $450,000 after buying an additional 54 shares in the last quarter. O Brien Greene & Co. Inc lifted its holdings 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 worth $481,000 after buying an additional 55 shares in the last quarter. Palumbo Wealth Management LLC boosted its position 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 valued at $864,000 after acquiring an additional 57 shares during the period. Rehmann Capital Advisory Group boosted its stake in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after buying an additional 58 shares during the period. Finally, Sivia Capital Partners LLC grew its position in American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust's stock worth $274,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AMT shares. Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Mizuho lowered their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, September 23rd. Finally, The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $230.67.

American Tower Stock Up 0.8 %

Shares of NYSE AMT traded up $1.51 during midday trading on Wednesday, hitting $180.31. The stock had a trading volume of 2,230,629 shares, compared to its average volume of 2,407,892. The company has a market cap of $84.26 billion, a P/E ratio of 76.08, a PEG ratio of 1.31 and a beta of 0.84. The business's 50 day moving average is $193.58 and its 200-day moving average is $211.68. American Tower Co. has a 52 week low of $170.46 and a 52 week 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.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.77 billion. During the same quarter last year, the company posted $2.58 EPS. The firm's revenue was down 10.5% compared to the same quarter last year. As a group, analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, December 27th. American Tower's dividend payout ratio (DPR) is currently 273.42%.

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.