Border to Coast Pensions Partnership Ltd Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Border to Coast Pensions Partnership Ltd boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 18.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 382,180 shares of the real estate investment trust’s stock after purchasing an additional 60,385 shares during the quarter. American Tower makes up approximately 1.4% of Border to Coast Pensions Partnership Ltd’s holdings, making the stock its 18th largest holding. Border to Coast Pensions Partnership Ltd’s holdings in American Tower were worth $70,049,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AMT. Fortitude Family Office LLC increased its stake in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the last quarter. Fairscale Capital LLC bought a new position in American Tower during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new position in American Tower during the 3rd quarter worth $30,000. Hara Capital LLC bought a new stake in shares of American Tower in the 3rd quarter worth about $31,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at about $34,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on AMT. Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays lowered their target price on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday. Four investment 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. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $230.67.

American Tower Trading Up 5.5 %

Shares of NYSE:AMT opened at $190.26 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $88.91 billion, a PE ratio of 80.28, a P/E/G ratio of 1.16 and a beta of 0.84. The company’s 50-day moving average price is $193.24 and its 200 day moving average price is $211.46.

American Tower (NYSE:AMT) last issued 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 return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the company earned $2.58 earnings per share. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. Sell-side analysts anticipate that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 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.