Border to Coast Pensions Partnership Ltd Raises Holdings in American Tower Co. (NYSE:AMT)

Border to Coast Pensions Partnership Ltd increased its stake in shares of American Tower Co. (NYSE:AMT) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,180 shares of the real estate investment trust’s stock after purchasing an additional 60,385 shares during the period. American Tower accounts for about 1.4% of Border to Coast Pensions Partnership Ltd’s holdings, making the stock its 18th biggest position. Border to Coast Pensions Partnership Ltd owned about 0.08% of American Tower worth $70,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. FMR LLC raised its position in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after buying an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. grew its stake in American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Adelante Capital Management LLC raised its holdings in American Tower by 2,723.4% in the 3rd 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 acquiring an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake 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 purchasing an additional 993,061 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in shares of American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Scotiabank decreased their target price on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group dropped 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. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.67.

American Tower Trading Up 5.5 %

Shares of AMT opened at $190.26 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock’s 50-day moving average is $193.24 and its two-hundred day moving average is $211.46. 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 cap of $88.91 billion, a PE ratio of 80.28, a P/E/G ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the firm posted $2.58 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. Equities analysts forecast that American Tower Co. will post 10.15 earnings per share for the current fiscal 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 paid a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. American Tower’s dividend payout ratio (DPR) 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.