American Tower Co. (NYSE:AMT) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC raised its holdings in shares of American Tower Co. (NYSE:AMT) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,247 shares of the real estate investment trust’s stock after acquiring an additional 3,739 shares during the period. MML Investors Services LLC’s holdings in American Tower were worth $9,825,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the period. FMR LLC lifted its stake 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 period. Ameriprise Financial Inc. increased its stake in shares of American Tower by 41.8% during the second 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 acquiring an additional 1,885,421 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after purchasing an additional 243,061 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in American Tower by 5.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,111,335 shares of the real estate investment trust’s stock worth $956,132,000 after purchasing an additional 224,261 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Mizuho boosted their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Scotiabank cut 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 note on Wednesday, October 30th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.54.

American Tower Price Performance

Shares of American Tower stock opened at $199.58 on Wednesday. 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 company has a market cap of $93.26 billion, a PE ratio of 84.19, a price-to-earnings-growth ratio of 1.38 and a beta of 0.83. The firm has a fifty day moving average price of $212.85 and a two-hundred day moving average price of $213.27. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 22.01% and a net margin of 10.05%. The firm’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period last year, the business earned $2.58 earnings per share. Analysts expect that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 3.25%. American Tower’s payout ratio 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.