Impax Asset Management Group plc Increases Stock Holdings in American Tower Co. (NYSE:AMT)

Impax Asset Management Group plc raised its holdings in American Tower Co. (NYSE:AMT - Free Report) by 68.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,925 shares of the real estate investment trust's stock after acquiring an additional 13,834 shares during the quarter. Impax Asset Management Group plc's holdings in American Tower were worth $7,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMT. Ameriprise Financial Inc. increased its holdings in American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Clearbridge Investments LLC increased its stake in shares of American Tower by 8.9% during the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust's stock valued at $720,206,000 after buying an additional 302,676 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of American Tower by 16.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust's stock valued at $643,571,000 after acquiring an additional 464,429 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of American Tower by 4.7% in the second quarter. Canada Pension Plan Investment Board now owns 1,536,255 shares of the real estate investment trust's stock valued at $298,617,000 after acquiring an additional 69,300 shares in the last quarter. Finally, ClearBridge Investments Ltd grew its holdings in American Tower by 6.2% during the 2nd quarter. ClearBridge Investments Ltd now owns 1,442,759 shares of the real estate investment trust's stock worth $280,443,000 after acquiring an additional 84,180 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Stock Performance

AMT traded up $1.68 during trading on Friday, reaching $196.45. 2,587,387 shares of the company's stock were exchanged, compared to its average volume of 2,323,201. The company's fifty day simple moving average is $222.51 and its 200-day simple moving average is $210.59. The stock has a market capitalization of $91.80 billion, a P/E ratio of 82.89, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

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

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.30%. American Tower's dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

AMT has been the subject of several research reports. Royal Bank of Canada upped their price target on shares of American Tower from $225.00 to $236.00 and gave the stock an "outperform" rating in a research report on Thursday, August 15th. Wells Fargo & Company downgraded American Tower from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their target price on shares of American Tower from $226.00 to $239.00 and gave the company a "buy" rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.85.

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.