Fort Washington Investment Advisors Inc. OH Grows Position in American Tower Co. (NYSE:AMT)

Fort Washington Investment Advisors Inc. OH raised its position in shares of American Tower Co. (NYSE:AMT) by 16.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 369,177 shares of the real estate investment trust’s stock after acquiring an additional 53,307 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.08% of American Tower worth $67,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMT. Profund Advisors LLC grew its stake in shares of American Tower by 2.9% in the 2nd quarter. Profund Advisors LLC now owns 7,426 shares of the real estate investment trust’s stock worth $1,443,000 after buying an additional 212 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in American Tower by 17,200.0% during the second quarter. Frank Rimerman Advisors LLC now owns 3,633 shares of the real estate investment trust’s stock worth $706,000 after acquiring an additional 3,612 shares during the last quarter. Public Sector Pension Investment Board raised its position in American Tower by 17.7% during the second quarter. Public Sector Pension Investment Board now owns 64,886 shares of the real estate investment trust’s stock valued at $12,613,000 after purchasing an additional 9,751 shares during the period. Bank of Montreal Can lifted its stake in shares of American Tower by 12.8% in the 2nd quarter. Bank of Montreal Can now owns 954,016 shares of the real estate investment trust’s stock valued at $185,623,000 after purchasing an additional 108,355 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of American Tower in the 2nd quarter worth approximately $89,752,000. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMT. BMO Capital Markets decreased 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. The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Scotiabank dropped their price target on shares of American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research note on Wednesday, October 30th. Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays dropped their target price on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $230.67.

American Tower Stock Down 0.2 %

Shares of NYSE:AMT opened at $189.94 on Wednesday. The business’s 50 day moving average is $192.75 and its 200 day moving average is $211.51. The stock has a market cap of $88.76 billion, a P/E ratio of 80.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. Sell-side analysts predict that American Tower Co. will post 10.15 EPS for the current year.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. American Tower’s dividend 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.