Vinva Investment Management Ltd Lowers Holdings in American Tower Co. (NYSE:AMT)

Vinva Investment Management Ltd lowered its stake in shares of American Tower Co. (NYSE:AMT) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,161 shares of the real estate investment trust’s stock after selling 2,064 shares during the quarter. Vinva Investment Management Ltd’s holdings in American Tower were worth $5,795,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FMR LLC raised its position in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after buying an additional 2,152,646 shares during the period. Ameriprise Financial Inc. lifted its stake 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 valued at $1,243,333,000 after purchasing an additional 1,885,421 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of American Tower by 23,224.1% during the 3rd 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 period. International Assets Investment Management LLC raised its holdings 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 valued at $1,811,330,000 after buying an additional 775,379 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in American Tower by 16.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust’s stock worth $643,571,000 after buying an additional 464,429 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 0.6 %

Shares of NYSE:AMT opened at $209.31 on Thursday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company’s fifty day moving average is $216.94 and its two-hundred day moving average is $212.14. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market capitalization of $97.81 billion, a price-to-earnings ratio of 88.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the company posted $2.58 earnings per share. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. Equities analysts anticipate that American Tower Co. will post 10.08 EPS for the current year.

American Tower Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analysts Set New Price Targets

AMT has been the topic of a number of research reports. Scotiabank cut their target price 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. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Royal Bank of Canada boosted their target price on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average 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.