American Tower Co. (NYSE:AMT) Shares Purchased by Caprock Group LLC

Caprock Group LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 46.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,051 shares of the real estate investment trust’s stock after acquiring an additional 3,524 shares during the period. Caprock Group LLC’s holdings in American Tower were worth $2,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Ameriprise Financial Inc. lifted its stake 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 in the last quarter. Clearbridge Investments LLC boosted its stake in shares of American Tower by 8.9% during the second quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after acquiring an additional 302,676 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after purchasing an additional 464,429 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in American Tower by 4.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,536,255 shares of the real estate investment trust’s stock valued at $298,617,000 after purchasing an additional 69,300 shares during the last quarter. Finally, ClearBridge Investments Ltd lifted its holdings in American Tower by 6.2% in the 2nd quarter. ClearBridge Investments Ltd now owns 1,442,759 shares of the real estate investment trust’s stock valued at $280,443,000 after purchasing an additional 84,180 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Trading Up 1.2 %

Shares of AMT stock opened at $201.17 on Wednesday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm’s 50 day moving average price is $220.88 and its two-hundred day moving average price is $211.37. The stock has a market cap of $94.00 billion, a price-to-earnings ratio of 84.88, a price-to-earnings-growth 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 earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The business’s revenue was down 10.5% compared to the same quarter last year. On average, analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a dividend of $1.62 per share. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 3.22%. American Tower’s 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.