American Tower Co. (NYSE:AMT) Shares Purchased by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH boosted its holdings in American Tower Co. (NYSE:AMT) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,228 shares of the real estate investment trust’s stock after acquiring an additional 382 shares during the period. Trust Co. of Toledo NA OH’s holdings in American Tower were worth $1,509,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in American Tower by 3.1% during 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 in the last quarter. Geode Capital Management LLC increased its position in shares of American Tower by 1.9% during the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock worth $2,599,074,000 after acquiring an additional 204,426 shares during the period. FMR LLC increased its position in shares of American Tower by 25.4% during the third 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 position 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 worth $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of 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 acquiring an additional 243,061 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of AMT traded up $1.44 during mid-day trading on Monday, hitting $174.90. 482,515 shares of the company’s stock were exchanged, compared to its average volume of 2,179,149. 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 firm has a market capitalization of $81.73 billion, a P/E ratio of 73.80, a P/E/G ratio of 1.31 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business’s 50 day moving average is $194.98 and its two-hundred day moving average is $211.92.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. On average, equities analysts expect 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. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.70%. American Tower’s payout ratio is 273.42%.

Analyst Ratings Changes

AMT has been the topic of a number of recent research reports. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. BMO Capital Markets dropped their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $230.67.

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.