TCW Group Inc. Has $100.06 Million Stock Holdings in American Tower Co. (NYSE:AMT)

TCW Group Inc. trimmed its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 19.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 430,246 shares of the real estate investment trust's stock after selling 100,929 shares during the period. TCW Group Inc. owned 0.09% of American Tower worth $100,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMT. FMR LLC increased its stake in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. raised its stake 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 valued at $1,243,333,000 after buying an additional 1,885,421 shares during the period. Adelante Capital Management LLC lifted its position in shares of American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock valued at $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust's stock worth $231,941,000 after acquiring an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust's stock valued at $1,811,330,000 after acquiring an additional 775,379 shares during the period. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

Shares of NYSE:AMT traded up $0.09 during midday trading on Wednesday, hitting $199.62. The stock had a trading volume of 2,356,801 shares, compared to its average volume of 2,325,481. 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 Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market capitalization of $93.28 billion, a P/E ratio of 84.31, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83. The company's 50-day moving average price is $212.20 and its 200-day moving average price is $213.37.

American Tower (NYSE:AMT - Get Free Report) last issued 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). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm's revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.58 EPS. As a group, equities research analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, December 27th. American Tower's payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company cut shares of American Tower from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock 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 note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective 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. Barclays decreased their target price on American Tower from $255.00 to $251.00 and set an "overweight" rating on the stock in a research report on Monday, November 18th. Finally, Scotiabank reduced 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. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.54.

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.