American Tower Co. (NYSE:AMT) Holdings Decreased by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,922 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. American Tower comprises approximately 16.1% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its largest position. Foresight Group Ltd Liability Partnership’s holdings in American Tower were worth $26,947,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Balentine LLC purchased a new stake in American Tower in the 3rd quarter worth approximately $586,000. Nordea Investment Management AB lifted its holdings in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new stake in American Tower in the 3rd quarter worth approximately $1,156,000. Czech National Bank lifted its holdings in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares during the period. Finally, Brookstone Capital Management lifted its holdings in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Up 5.5 %

Shares of AMT opened at $190.26 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a 50 day simple moving average of $193.24 and a two-hundred day simple moving average of $211.46. The firm has a market cap of $88.91 billion, a P/E ratio of 80.28, a price-to-earnings-growth ratio of 1.16 and a beta of 0.84.

American Tower (NYSE:AMT) last announced its quarterly earnings data 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 net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the business earned $2.58 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities analysts expect that American Tower Co. will post 10.15 earnings per share for the current fiscal 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 given 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 3.41%. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMT shares. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Scotiabank lowered their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company lowered 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. Finally, Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Company 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.