American Tower Co. (NYSE:AMT) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lifted its holdings in shares of American Tower Co. (NYSE:AMT) by 0.6% during the fourth quarter, Holdings Channel reports. The fund owned 39,241 shares of the real estate investment trust’s stock after purchasing an additional 226 shares during the quarter. Gateway Investment Advisers LLC’s holdings in American Tower were worth $7,197,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bradley Foster & Sargent Inc. CT grew its position in shares of American Tower by 3.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 6,853 shares of the real estate investment trust’s stock worth $1,332,000 after buying an additional 251 shares in the last quarter. E Fund Management Co. Ltd. grew its holdings in American Tower by 140.6% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,487 shares of the real estate investment trust’s stock worth $678,000 after acquiring an additional 2,038 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of American Tower by 113.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 59,416 shares of the real estate investment trust’s stock valued at $11,549,000 after purchasing an additional 31,616 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of American Tower by 11.0% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,456 shares of the real estate investment trust’s stock worth $1,449,000 after purchasing an additional 740 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in American Tower by 4.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 38,647 shares of the real estate investment trust’s stock worth $7,512,000 after purchasing an additional 1,757 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on AMT shares. Scotiabank cut their price objective on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Mizuho dropped their price target 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. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Barclays decreased their price target on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.67.

American Tower Trading Up 5.5 %

American Tower stock opened at $190.26 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-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 firm has a market capitalization of $88.91 billion, a price-to-earnings ratio of 80.28, a PEG ratio of 1.16 and a beta of 0.84. The firm has a 50-day moving average price of $193.24 and a two-hundred day moving average price of $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 expect that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid 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 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.