Northeast Investment Management Grows Position in American Tower Co. (NYSE:AMT)

Northeast Investment Management lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,625 shares of the real estate investment trust’s stock after buying an additional 923 shares during the period. American Tower makes up 1.9% of Northeast Investment Management’s portfolio, making the stock its 18th biggest position. Northeast Investment Management’s holdings in American Tower were worth $42,704,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMT. Norden Group LLC purchased a new stake in shares of American Tower during the first quarter valued at $463,000. Lincoln National Corp boosted its position in American Tower by 6.4% in the first quarter. Lincoln National Corp now owns 14,514 shares of the real estate investment trust’s stock worth $2,868,000 after purchasing an additional 873 shares during the last quarter. FORA Capital LLC purchased a new position in American Tower in the first quarter worth about $465,000. Central Pacific Bank Trust Division purchased a new position in American Tower in the first quarter worth about $844,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in American Tower by 14.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 138,048 shares of the real estate investment trust’s stock worth $27,277,000 after purchasing an additional 17,424 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on AMT shares. TD Cowen raised their target price on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada lifted their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.85.

American Tower Trading Down 1.1 %

NYSE:AMT opened at $211.26 on Monday. The firm has a market cap of $98.68 billion, a PE ratio of 89.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. The stock has a fifty day moving average price of $228.14 and a 200 day moving average price of $209.20. 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 0.81 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last announced 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). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the firm earned $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. Sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

American Tower 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.