Voya Financial Advisors Inc. Increases Holdings in American Tower Co. (NYSE:AMT)

Voya Financial Advisors Inc. lifted its holdings in American Tower Co. (NYSE:AMT) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,541 shares of the real estate investment trust’s stock after acquiring an additional 216 shares during the period. Voya Financial Advisors Inc.’s holdings in American Tower were worth $1,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nebula Research & Development LLC purchased a new position in shares of American Tower during the 4th quarter worth about $1,083,000. Integrated Wealth Concepts LLC raised its holdings in shares of American Tower by 33.0% in the fourth quarter. Integrated Wealth Concepts LLC now owns 39,095 shares of the real estate investment trust’s stock worth $7,170,000 after buying an additional 9,700 shares during the period. Burling Wealth Partners LLC bought a new stake in shares of American Tower during the 4th quarter worth approximately $4,750,000. J. Stern & Co. LLP boosted its holdings in American Tower by 5.3% during the 4th quarter. J. Stern & Co. LLP now owns 122,576 shares of the real estate investment trust’s stock valued at $22,482,000 after acquiring an additional 6,118 shares during the period. Finally, Evercore Wealth Management LLC grew its position in American Tower by 1.0% in the 4th quarter. Evercore Wealth Management LLC now owns 453,370 shares of the real estate investment trust’s stock valued at $83,153,000 after acquiring an additional 4,600 shares during the last quarter. 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 research analyst reports. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Citigroup lifted their price objective on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $233.07.

American Tower Stock Performance

Shares of AMT stock opened at $210.95 on Friday. 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 business has a fifty day moving average of $210.41 and a 200 day moving average of $202.33. The firm 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. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $2.29 EPS. As a group, research analysts expect that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

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

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.