Massachusetts Financial Services Co. MA Has $822.77 Million Position in American Tower Co. (NYSE:AMT)

Massachusetts Financial Services Co. MA boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,537,892 shares of the real estate investment trust’s stock after buying an additional 226,999 shares during the period. Massachusetts Financial Services Co. MA’s holdings in American Tower were worth $822,772,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AMT. Fortitude Family Office LLC grew its holdings in American Tower by 269.0% during 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 in the last quarter. Fairscale Capital LLC bought a new stake in shares of American Tower in the 2nd quarter worth $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the third quarter valued at about $30,000. Cultivar Capital Inc. bought a new position in shares of American Tower during the second quarter valued at about $25,000. Finally, Hara Capital LLC purchased a new position in American Tower during the third quarter worth about $31,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. TD Cowen boosted their price objective on American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada raised their target price on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Wells Fargo & Company downgraded shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.54.

American Tower Price Performance

NYSE AMT opened at $203.18 on Friday. The company has a market cap of $94.94 billion, a PE ratio of 85.73, a price-to-earnings-growth ratio of 1.34 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. The firm’s 50-day simple moving average is $219.44 and its two-hundred day simple moving average is $211.24. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate 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 business posted $2.58 earnings per share. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. Research analysts predict 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 was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.