Wellington Management Group LLP Decreases Holdings in American Tower Co. (NYSE:AMT)

Wellington Management Group LLP cut its holdings in American Tower Co. (NYSE:AMT - Free Report) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,380,675 shares of the real estate investment trust's stock after selling 453,788 shares during the quarter. Wellington Management Group LLP owned 2.44% of American Tower worth $2,646,690,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AMT. Cultivar Capital Inc. purchased a new stake in shares of American Tower during the 2nd quarter worth approximately $25,000. Fortitude Family Office LLC boosted 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 worth $25,000 after purchasing an additional 78 shares in the last quarter. Fairscale Capital LLC acquired a new stake in American Tower in the second quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new stake in American Tower in the second quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of American Tower in the third quarter valued at $30,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Down 1.0 %

AMT stock traded down $2.06 on Friday, hitting $207.10. 2,677,904 shares of the company were exchanged, compared to its average volume of 2,451,360. 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 stock 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 Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The business's fifty day moving average is $213.78 and its two-hundred day moving average is $212.73.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. The company's quarterly revenue was down 10.5% on a year-over-year basis. As a group, research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, December 27th. American Tower's payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AMT shares. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target 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. BMO Capital Markets cut their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a "neutral" rating in a report on Thursday, September 12th. Finally, Wells Fargo & Company cut American Tower from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.