American Tower Co. (NYSE:AMT) Stock Holdings Boosted by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 431,261 shares of the real estate investment trust’s stock after purchasing an additional 21,084 shares during the period. American Tower accounts for approximately 1.1% of Douglas Lane & Associates LLC’s holdings, making the stock its 25th biggest position. Douglas Lane & Associates LLC owned approximately 0.09% of American Tower worth $79,098,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in AMT. Acadian Asset Management LLC increased its position in shares of American Tower by 1,791.9% during the 2nd quarter. Acadian Asset Management LLC now owns 12,316 shares of the real estate investment trust’s stock valued at $2,392,000 after purchasing an additional 11,665 shares during the period. Caprock Group LLC boosted its position in shares of American Tower by 8.2% during the 2nd quarter. Caprock Group LLC now owns 7,527 shares of the real estate investment trust’s stock valued at $1,475,000 after purchasing an additional 569 shares in the last quarter. Koss Olinger Consulting LLC bought a new stake in shares of American Tower in the 2nd quarter worth approximately $221,000. Choreo LLC lifted its stake in American Tower by 240.2% during the second quarter. Choreo LLC now owns 13,797 shares of the real estate investment trust’s stock valued at $2,678,000 after purchasing an additional 9,741 shares during the last quarter. Finally, LGT Fund Management Co Ltd. boosted its holdings in American Tower by 1,747.1% during the second quarter. LGT Fund Management Co Ltd. now owns 60,214 shares of the real estate investment trust’s stock worth $11,704,000 after buying an additional 56,954 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, Barclays lowered their price target on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Four equities 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. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $233.67.

American Tower Stock Performance

American Tower stock traded up $1.05 during trading hours on Wednesday, reaching $178.22. 1,049,781 shares of the company were exchanged, compared to its average volume of 2,066,190. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The firm has a market cap of $83.28 billion, a price-to-earnings ratio of 75.20, a PEG ratio of 1.31 and a beta of 0.84. 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 stock has a 50-day moving average of $197.12 and a 200 day moving average of $212.27.

American Tower (NYSE:AMT) last announced 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). 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 during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the business earned $2.58 EPS. The business’s revenue was down 10.5% compared to the same quarter last year. As a group, research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.64%. American Tower’s dividend payout ratio is 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.