American Tower Co. (NYSE:AMT) Shares Bought by National Pension Service

National Pension Service raised its position in American Tower Co. (NYSE:AMT) by 17.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,059,124 shares of the real estate investment trust’s stock after purchasing an additional 156,382 shares during the period. National Pension Service owned about 0.23% of American Tower worth $246,310,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in 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 valued at $25,000 after purchasing an additional 78 shares during the last quarter. Fairscale Capital LLC acquired a new stake in American Tower in the second quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at $30,000. Cultivar Capital Inc. acquired a new stake in American Tower in the second quarter valued at $25,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of American Tower during the second quarter valued at $29,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $212.53 on Monday. The stock’s 50-day moving average is $228.14 and its 200-day moving average is $209.20. The company has a market cap of $99.27 billion, a price-to-earnings ratio of 89.14, a price-to-earnings-growth ratio of 1.49 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.81. American Tower Co. has a 12 month low of $170.46 and a 12 month 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 analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.58 earnings per share. Equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Announces Dividend

The company also recently disclosed 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 of this dividend was Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.05%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analyst Ratings Changes

AMT has been the topic of a number of analyst reports. Royal Bank of Canada increased their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. TD Cowen increased their price objective on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $235.85.

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.