Northcape Capital Pty Ltd Has $1.44 Million Holdings in American Tower Co. (NYSE:AMT)

Northcape Capital Pty Ltd decreased its position in American Tower Co. (NYSE:AMT) by 23.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,870 shares of the real estate investment trust’s stock after selling 2,456 shares during the quarter. American Tower accounts for approximately 0.2% of Northcape Capital Pty Ltd’s holdings, making the stock its 21st largest holding. Northcape Capital Pty Ltd’s holdings in American Tower were worth $1,443,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC lifted its stake in American Tower by 1,791.9% in the 2nd quarter. Acadian Asset Management LLC now owns 12,316 shares of the real estate investment trust’s stock valued at $2,392,000 after acquiring an additional 11,665 shares in the last quarter. Caprock Group LLC raised its holdings in shares of American Tower by 8.2% in the second quarter. Caprock Group LLC now owns 7,527 shares of the real estate investment trust’s stock valued at $1,475,000 after purchasing an additional 569 shares during the last quarter. Koss Olinger Consulting LLC bought a new stake in shares of American Tower in the second quarter worth $221,000. Choreo LLC boosted its holdings in American Tower by 240.2% during the second quarter. Choreo LLC now owns 13,797 shares of the real estate investment trust’s stock worth $2,678,000 after purchasing an additional 9,741 shares during the last quarter. Finally, LGT Fund Management Co Ltd. grew its position in American Tower by 1,747.1% in the second quarter. LGT Fund Management Co Ltd. now owns 60,214 shares of the real estate investment trust’s stock valued at $11,704,000 after purchasing an additional 56,954 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMT. Barclays decreased their price objective on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research report on Monday, November 18th. Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a report on Thursday, October 10th. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Mizuho lifted their target price on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $235.08.

American Tower Stock Performance

NYSE AMT opened at $177.26 on Wednesday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market capitalization of $82.83 billion, a price-to-earnings ratio of 74.79, a P/E/G ratio of 1.31 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. The firm’s 50 day simple moving average is $197.12 and its 200 day simple moving average is $212.27.

American Tower (NYSE:AMT) last released its 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 business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 EPS. As a group, research analysts expect that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.