Healthcare of Ontario Pension Plan Trust Fund Grows Stake in American Tower Co. (NYSE:AMT)

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of American Tower Co. (NYSE:AMT) by 107.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 288,900 shares of the real estate investment trust’s stock after purchasing an additional 149,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of American Tower worth $67,187,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMT. FMR LLC grew 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 purchasing an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. grew 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 purchasing an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC grew its position in shares of American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after purchasing an additional 775,379 shares in the last quarter. Finally, Swedbank AB purchased a new position in American Tower during the 1st quarter valued at approximately $123,861,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.3 %

Shares of NYSE AMT opened at $208.09 on Wednesday. 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 business has a fifty day simple moving average of $217.47 and a two-hundred day simple moving average of $212.16. The firm has a market cap of $97.24 billion, a PE ratio of 87.80, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the firm earned $2.58 earnings per share. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. Analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal 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 issued a $1.62 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.11%. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMT shares. Deutsche Bank Aktiengesellschaft raised their price target on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Royal Bank of Canada raised their price target on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $235.54.

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.