American Tower Co. (NYSE:AMT) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its position in American Tower Co. (NYSE:AMT) by 33.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 700,949 shares of the real estate investment trust’s stock after selling 354,739 shares during the quarter. Voya Investment Management LLC owned about 0.15% of American Tower worth $128,561,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMT. Wilmington Savings Fund Society FSB purchased a new position in shares of American Tower during the 3rd quarter worth $1,784,000. Destination Wealth Management boosted its stake in American Tower by 2.7% during the third quarter. Destination Wealth Management now owns 94,992 shares of the real estate investment trust’s stock worth $22,091,000 after buying an additional 2,517 shares during the period. Tidal Investments LLC increased its position in shares of American Tower by 5.4% during the third quarter. Tidal Investments LLC now owns 19,990 shares of the real estate investment trust’s stock valued at $4,649,000 after acquiring an additional 1,032 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of American Tower by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after acquiring an additional 38,436 shares during the period. Finally, Inspire Trust Co. N.A. boosted its position in shares of American Tower by 19.3% during the third quarter. Inspire Trust Co. N.A. now owns 7,800 shares of the real estate investment trust’s stock worth $1,814,000 after buying an additional 1,260 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the topic of a number of recent research reports. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley began coverage on shares of American Tower in a report on Tuesday, April 1st. They set an “overweight” rating and a $250.00 target price on the stock. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Scotiabank reissued an “outperform” rating on shares of American Tower in a research note on Tuesday. Finally, JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $233.07.

American Tower Trading Down 0.8 %

NYSE AMT opened at $210.95 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market capitalization of $98.61 billion, a price-to-earnings ratio of 89.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s fifty day moving average price is $210.41 and its 200 day moving average price is $202.33.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. On average, sell-side analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a dividend of $1.70 per share. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.22%. American Tower’s dividend payout ratio (DPR) is 141.37%.

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.