Natixis Advisors LLC Raises Stock Holdings in American Tower Co. (NYSE:AMT)

Natixis Advisors LLC raised its position in shares of American Tower Co. (NYSE:AMT) by 20.7% during the 3rd quarter, Holdings Channel reports. The fund owned 177,947 shares of the real estate investment trust’s stock after purchasing an additional 30,499 shares during the period. Natixis Advisors LLC’s holdings in American Tower were worth $41,383,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Northcape Wealth Management LLC raised its holdings in shares of American Tower by 2.3% during the 3rd quarter. Northcape Wealth Management LLC now owns 10,620 shares of the real estate investment trust’s stock worth $2,470,000 after acquiring an additional 235 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of American Tower by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 9,935 shares of the real estate investment trust’s stock worth $2,310,000 after acquiring an additional 508 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of American Tower by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 88,610 shares of the real estate investment trust’s stock worth $20,607,000 after acquiring an additional 3,720 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of American Tower by 68.9% during the 3rd quarter. Impax Asset Management Group plc now owns 33,925 shares of the real estate investment trust’s stock worth $7,890,000 after acquiring an additional 13,834 shares in the last quarter. Finally, Nicola Wealth Management LTD. raised its holdings in American Tower by 20.3% during the 3rd quarter. Nicola Wealth Management LTD. now owns 8,281 shares of the real estate investment trust’s stock valued at $1,926,000 after buying an additional 1,400 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of AMT stock opened at $196.45 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. The company has a market cap of $91.80 billion, a P/E ratio of 82.89, a PEG ratio of 1.31 and a beta of 0.84. The stock’s 50-day moving average is $222.51 and its 200 day moving average is $211.10. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share 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 analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business posted $2.58 earnings per share. The firm’s revenue was down 10.5% compared to the same quarter last year. Research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.30%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is currently 273.42%.

Analysts Set New Price Targets

AMT has been the topic of several recent research reports. Barclays increased their price target on American Tower from $223.00 to $255.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Scotiabank decreased their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada increased their target price on American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their target price on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.85.

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.