American Tower Co. (NYSE:AMT) Position Boosted by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P increased its holdings in American Tower Co. (NYSE:AMT) by 16.1% during the third quarter, Holdings Channel reports. The firm owned 44,973 shares of the real estate investment trust’s stock after purchasing an additional 6,236 shares during the period. Loomis Sayles & Co. L P’s holdings in American Tower were worth $10,459,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Cultivar Capital Inc. acquired a new stake in shares of American Tower during the 2nd quarter valued at $25,000. Fortitude Family Office LLC raised its position in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the period. Fairscale Capital LLC purchased a new stake in shares of American Tower during the second quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in shares of American Tower in the 2nd quarter valued at $29,000. Finally, Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter worth about $30,000. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 0.6 %

Shares of American Tower stock opened at $209.31 on Thursday. The firm has a market cap of $97.81 billion, a price-to-earnings ratio of 88.32, a P/E/G ratio of 1.38 and a beta of 0.84. The stock has a 50-day simple moving average of $216.94 and a 200-day simple moving average of $212.14. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. 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 (NYSE:AMT) last released 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 the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 EPS. On average, equities research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is 273.42%.

Analyst Upgrades and Downgrades

AMT has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. TD Cowen lifted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Mizuho increased their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Four investment 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 company. According to MarketBeat.com, American Tower has a consensus 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.