Royal London Asset Management Ltd. Increases Holdings in American Tower Co. (NYSE:AMT)

Royal London Asset Management Ltd. increased its holdings in American Tower Co. (NYSE:AMT - Free Report) by 20.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 261,653 shares of the real estate investment trust's stock after buying an additional 43,675 shares during the period. Royal London Asset Management Ltd. owned 0.06% of American Tower worth $60,850,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Cultivar Capital Inc. bought a new position in shares of American Tower during the 2nd quarter valued at about $25,000. Fortitude Family Office LLC grew its position in 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 valued at $25,000 after acquiring an additional 78 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of American Tower during the second quarter worth approximately $27,000. Hobbs Group Advisors LLC bought a new stake in shares of American Tower in the 2nd quarter worth approximately $29,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at $30,000. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMT. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, September 23rd. Finally, Mizuho lifted their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a "neutral" rating in a research note on Thursday, September 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has an average rating of "Moderate Buy" and an average target price of $235.54.

American Tower Trading Down 1.0 %

Shares of AMT traded down $2.06 during trading hours on Friday, reaching $207.10. 2,677,904 shares of the company traded hands, compared to its average volume of 2,321,875. American Tower Co. has a 12 month low of $170.46 and a 12 month 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. The company's fifty day moving average price is $213.78 and its two-hundred day moving average price is $212.73. The company has a market capitalization of $96.78 billion, a price-to-earnings ratio of 87.38, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results 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). The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 EPS. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, December 27th. American Tower's payout ratio 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.