NFJ Investment Group LLC Has $22.46 Million Position in American Tower Co. (NYSE:AMT)

NFJ Investment Group LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,580 shares of the real estate investment trust’s stock after selling 11,340 shares during the quarter. NFJ Investment Group LLC’s holdings in American Tower were worth $22,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in American Tower by 24.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 907 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 176 shares during the period. Mather Group LLC. lifted its holdings in American Tower by 11.7% during the 2nd quarter. Mather Group LLC. now owns 6,524 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 681 shares during the last quarter. Olistico Wealth LLC bought a new stake in American Tower in the 2nd quarter valued at $41,000. Kingswood Wealth Advisors LLC grew its holdings in American Tower by 46.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,628 shares of the real estate investment trust’s stock valued at $1,483,000 after buying an additional 2,423 shares in the last quarter. Finally, Fiduciary Alliance LLC acquired a new stake in shares of American Tower during the second quarter worth $246,000. 92.69% of the stock is owned by institutional investors.

American Tower Trading Up 0.3 %

Shares of American Tower stock traded up $0.69 during trading on Tuesday, hitting $208.02. The company’s stock had a trading volume of 304,511 shares, compared to its average volume of 2,309,675. The stock has a market cap of $97.21 billion, a price-to-earnings ratio of 87.48, a price-to-earnings-growth ratio of 1.39 and a beta of 0.83. 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 Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a 50-day moving average price of $215.95 and a two-hundred day moving average price of $212.61.

American Tower (NYSE:AMT) last issued its quarterly earnings data 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 company 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 revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.58 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend was Wednesday, October 9th. American Tower’s dividend payout ratio is presently 273.42%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMT shares. Wells Fargo & Company cut shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. BMO Capital Markets decreased their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays decreased their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research report on Monday, November 18th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $235.54.

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.