American Tower Co. (NYSE:AMT) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lowered its position in shares of American Tower Co. (NYSE:AMT) by 0.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 208,228 shares of the real estate investment trust’s stock after selling 1,692 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in American Tower were worth $48,426,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the period. Ameriprise Financial Inc. lifted its stake in American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Adelante Capital Management LLC boosted its holdings in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its position in American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after purchasing an additional 775,379 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMT shares. Deutsche Bank Aktiengesellschaft raised their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Scotiabank dropped their price objective on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

American Tower Price Performance

Shares of American Tower stock opened at $207.10 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a market capitalization of $96.78 billion, a P/E ratio of 87.38, a PEG ratio of 1.38 and a beta of 0.83. The business has a 50 day simple moving average of $213.32 and a two-hundred day simple moving average of $213.12.

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, analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

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.