Los Angeles Capital Management LLC Has $48.99 Million Stock Position in American Tower Co. (NYSE:AMT)

Los Angeles Capital Management LLC cut its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 15.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,667 shares of the real estate investment trust's stock after selling 39,612 shares during the quarter. Los Angeles Capital Management LLC's holdings in American Tower were worth $48,993,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust's stock worth $12,248,812,000 after purchasing an additional 965,938 shares in the last quarter. Ameriprise Financial Inc. grew its position in American Tower by 41.8% in the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of American Tower by 8.9% during the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust's stock worth $720,206,000 after purchasing an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of American Tower by 16.3% in the 2nd 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 purchasing an additional 464,429 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in American Tower by 0.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,630,644 shares of the real estate investment trust's stock worth $315,868,000 after purchasing an additional 6,193 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Price Performance

Shares of AMT traded up $3.93 during trading hours on Friday, hitting $201.80. The stock had a trading volume of 3,981,626 shares, compared to its average volume of 2,433,520. The stock has a market capitalization of $94.30 billion, a price-to-earnings ratio of 85.15, a P/E/G ratio of 1.34 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. The company's fifty day moving average is $226.12 and its two-hundred day moving average is $210.08. American Tower Co. has a 52 week low of $170.46 and a 52 week 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 earnings per share (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 during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the firm posted $2.58 EPS. The business's revenue was down 10.5% on a year-over-year basis. On average, analysts anticipate 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 was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.21%. The ex-dividend date was Wednesday, October 9th. American Tower's dividend payout ratio (DPR) is presently 273.42%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMT. Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a research note on Wednesday, October 30th. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Barclays raised their price target on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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.