Sarasin & Partners LLP Raises Holdings in American Tower Co. (NYSE:AMT)

Sarasin & Partners LLP grew its stake in American Tower Co. (NYSE:AMT - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 936,011 shares of the real estate investment trust's stock after buying an additional 37,692 shares during the quarter. American Tower makes up 1.9% of Sarasin & Partners LLP's portfolio, making the stock its 20th biggest holding. Sarasin & Partners LLP owned 0.20% of American Tower worth $171,674,000 as of its most recent filing with the Securities & Exchange Commission.

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

American Tower Stock Up 0.2 %

AMT traded up $0.44 on Monday, hitting $190.51. The company had a trading volume of 2,882,489 shares, compared to its average volume of 2,167,840. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The stock 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 stock has a fifty day moving average price of $192.86 and a 200-day moving average price of $211.54.

American Tower (NYSE:AMT - Get Free Report) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $2.77 billion. During the same quarter last year, the business earned $2.58 earnings per share. American Tower's revenue was down 10.5% on a year-over-year basis. Analysts predict that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, December 27th. American Tower's dividend payout ratio is presently 273.42%.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. BMO Capital Markets cut their target price 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. boosted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Barclays lowered 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, Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $230.67.

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.