American Tower Co. (NYSE:AMT) Shares Purchased by West Family Investments Inc.

West Family Investments Inc. boosted its position in American Tower Co. (NYSE:AMT) by 16.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,381 shares of the real estate investment trust’s stock after purchasing an additional 191 shares during the quarter. West Family Investments Inc.’s holdings in American Tower were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AMT. Ameriprise Financial Inc. grew its holdings 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 valued at $1,243,333,000 after buying an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC grew its holdings in American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares during the period. International Assets Investment Management LLC grew its holdings 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 buying an additional 775,379 shares during the period. Swedbank AB purchased a new stake in American Tower in the 1st quarter valued at about $123,861,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in American Tower by 16.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after buying an additional 464,429 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $201.17 on Wednesday. The business’s 50 day moving average is $220.88 and its two-hundred day moving average is $211.37. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market cap of $94.00 billion, a price-to-earnings ratio of 84.88, a PEG ratio of 1.31 and a beta of 0.84. 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 (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 the consensus estimate of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 earnings per share. Analysts forecast 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 was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

Several analysts have commented on AMT shares. Royal Bank of Canada lifted their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Mizuho boosted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets reduced their price target 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. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

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.