Voya Financial Advisors Inc. Raises Stock Position in American Tower Co. (NYSE:AMT)

Voya Financial Advisors Inc. increased its holdings in shares of American Tower Co. (NYSE:AMT) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,325 shares of the real estate investment trust’s stock after purchasing an additional 195 shares during the period. Voya Financial Advisors Inc.’s holdings in American Tower were worth $1,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CX Institutional increased its holdings in American Tower by 3.5% in the second quarter. CX Institutional now owns 1,879 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 63 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in American Tower in the second quarter valued at $9,796,000. Webster Bank N. A. increased its holdings in American Tower by 22.0% in the second quarter. Webster Bank N. A. now owns 970 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 175 shares in the last quarter. QRG Capital Management Inc. increased its holdings in American Tower by 3.0% in the second quarter. QRG Capital Management Inc. now owns 24,687 shares of the real estate investment trust’s stock valued at $4,799,000 after buying an additional 720 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in American Tower in the second quarter valued at $96,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

AMT opened at $209.16 on Friday. The firm has a market capitalization of $97.74 billion, a PE ratio of 88.25, a PEG ratio of 1.38 and a beta of 0.83. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm’s 50-day moving average price is $213.78 and its 200 day moving average price is $212.73. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted its quarterly 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). The business had revenue of $2.52 billion for the quarter, compared to analyst estimates 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 was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 earnings per share. As a group, sell-side analysts expect that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.10%. American Tower’s payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMT. Scotiabank cut their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Barclays cut their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. JPMorgan Chase & Co. boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Four equities 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’s stock. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $235.54.

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.