American Tower Co. (NYSE:AMT) Shares Purchased by Voya Financial Advisors Inc.

Voya Financial Advisors Inc. lifted its stake in American Tower Co. (NYSE:AMT) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,325 shares of the real estate investment trust’s stock after acquiring an additional 195 shares during the quarter. Voya Financial Advisors Inc.’s holdings in American Tower were worth $1,457,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMT. FMR LLC lifted its holdings in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of 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 last quarter. Adelante Capital Management LLC lifted its holdings in shares of 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 worth $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC increased its stake in 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 buying an additional 993,061 shares during the period. Finally, International Assets Investment Management LLC increased its stake in American Tower by 22,242.7% during the 3rd 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 buying an additional 775,379 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AMT shares. Mizuho upped their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Royal Bank of Canada upped their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. increased their price objective 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. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.54.

American Tower Trading Up 0.8 %

Shares of American Tower stock opened at $209.16 on Friday. The company has a fifty day simple moving average of $213.78 and a 200-day simple moving average of $212.73. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. 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 market cap of $97.74 billion, a price-to-earnings ratio of 88.25, a PEG ratio of 1.38 and a beta of 0.83.

American Tower (NYSE:AMT) last issued its 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). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 EPS. The company’s quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. American Tower’s dividend payout ratio is currently 273.42%.

About American Tower

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.