Robeco Institutional Asset Management B.V. Raises Stock Position in American Tower Co. (NYSE:AMT)

Robeco Institutional Asset Management B.V. raised 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. The fund owned 221,699 shares of the real estate investment trust’s stock after buying an additional 15,582 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in American Tower were worth $51,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Fairscale Capital LLC purchased a new position in shares of American Tower in the second quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new stake in American Tower during the third quarter valued at approximately $30,000. Cultivar Capital Inc. purchased a new stake in American Tower during the second quarter valued at approximately $25,000. Finally, Hobbs Group Advisors LLC bought a new position in American Tower in the second quarter worth approximately $29,000. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Scotiabank decreased their price objective on 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. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Mizuho raised their target price on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.85.

American Tower Price Performance

NYSE:AMT opened at $212.11 on Tuesday. The business’s 50-day moving average is $227.87 and its 200 day moving average is $209.49. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market capitalization of $99.07 billion, a P/E ratio of 89.50, a P/E/G ratio of 1.48 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last posted its 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 during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the business posted $2.58 earnings per share. On average, equities research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Wednesday, October 9th. American Tower’s payout ratio is 273.42%.

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.