Intech Investment Management LLC Trims Holdings in American Tower Co. (NYSE:AMT)

Intech Investment Management LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 83.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,693 shares of the real estate investment trust’s stock after selling 37,890 shares during the quarter. Intech Investment Management LLC’s holdings in American Tower were worth $1,789,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its holdings in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after buying an additional 1,885,421 shares during the period. Pathway Financial Advisers LLC raised its holdings in shares of American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after acquiring an additional 993,061 shares in the last quarter. International Assets Investment Management LLC lifted its stake in American Tower by 22,242.7% in 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 acquiring an additional 775,379 shares during the period. Swedbank AB bought a new position in American Tower during the 1st quarter worth about $123,861,000. Finally, Massachusetts Financial Services Co. MA increased its position in American Tower by 16.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock valued at $643,571,000 after purchasing an additional 464,429 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 1.6 %

Shares of American Tower stock opened at $207.60 on Tuesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm’s 50 day simple moving average is $218.10 and its two-hundred day simple moving average is $211.99. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market capitalization of $97.01 billion, a price-to-earnings ratio of 87.59, a PEG ratio of 1.36 and a beta of 0.84.

American Tower (NYSE:AMT) last issued its earnings results 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). 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 was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.58 EPS. Analysts predict that American Tower Co. will post 10.08 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors 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 annualized dividend and a yield of 3.12%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AMT shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted 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. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Finally, Barclays decreased their price target on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Four investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower 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.