Trust Co. of Toledo NA OH Increases Position in American Tower Co. (NYSE:AMT)

Trust Co. of Toledo NA OH lifted its holdings in American Tower Co. (NYSE:AMT) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,228 shares of the real estate investment trust’s stock after purchasing an additional 382 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in American Tower were worth $1,509,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Fiduciary Alliance LLC boosted its position in shares of American Tower by 188.3% in the 4th quarter. Fiduciary Alliance LLC now owns 4,950 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 3,233 shares in the last quarter. Czech National Bank boosted its position in shares of American Tower by 6.5% in the 4th quarter. Czech National Bank now owns 101,318 shares of the real estate investment trust’s stock worth $18,583,000 after purchasing an additional 6,169 shares in the last quarter. RMR Wealth Builders boosted its position in shares of American Tower by 12.6% in the 4th quarter. RMR Wealth Builders now owns 8,998 shares of the real estate investment trust’s stock worth $1,650,000 after purchasing an additional 1,008 shares in the last quarter. Atlas Brown Inc. lifted its position in American Tower by 7.3% during the 4th quarter. Atlas Brown Inc. now owns 1,106 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 75 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its position in American Tower by 14.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 19,564 shares of the real estate investment trust’s stock worth $3,588,000 after acquiring an additional 2,452 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on AMT shares. Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Barclays decreased their price objective on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group decreased their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Price Performance

NYSE:AMT traded up $1.44 during trading hours on Monday, hitting $174.90. 482,515 shares of the stock were exchanged, compared to its average volume of 2,179,149. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm’s fifty day moving average price is $194.98 and its 200 day moving average price is $211.92. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $81.73 billion, a P/E ratio of 73.80, a P/E/G ratio of 1.31 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its quarterly 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). The company 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%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. As a group, equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

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 issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is presently 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.