Loomis Sayles & Co. L P Raises Stake in American Tower Co. (NYSE:AMT)

Loomis Sayles & Co. L P lifted its position in shares of American Tower Co. (NYSE:AMT) by 16.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 44,973 shares of the real estate investment trust’s stock after buying an additional 6,236 shares during the period. Loomis Sayles & Co. L P’s holdings in American Tower were worth $10,459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AMT. Harvest Fund Management Co. Ltd acquired a new position in American Tower in the 3rd quarter valued at $1,147,000. Dynamic Technology Lab Private Ltd lifted its position in American Tower by 252.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 4,800 shares of the real estate investment trust’s stock worth $1,116,000 after buying an additional 3,437 shares during the period. Fisher Asset Management LLC boosted its position in shares of American Tower by 3.2% in the third quarter. Fisher Asset Management LLC now owns 1,731,570 shares of the real estate investment trust’s stock worth $402,694,000 after acquiring an additional 52,925 shares during the last quarter. Hartford Funds Management Co LLC boosted its holdings in shares of American Tower by 44.6% in the 3rd quarter. Hartford Funds Management Co LLC now owns 5,624 shares of the real estate investment trust’s stock valued at $1,308,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in shares of American Tower by 11.5% during the 3rd quarter. Summit Trail Advisors LLC now owns 6,325 shares of the real estate investment trust’s stock worth $1,471,000 after buying an additional 654 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $209.31 on Thursday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $97.81 billion, a PE ratio of 88.32, a P/E/G ratio of 1.38 and a beta of 0.84. The stock has a 50 day simple moving average of $216.94 and a 200-day simple moving average of $212.14. 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 quarterly earnings data 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). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 EPS. On average, equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current 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 issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.10%. American Tower’s payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AMT. TD Cowen boosted their price objective on shares of American Tower from $226.00 to $239.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays lowered their target price on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a research note on Monday, November 18th. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Mizuho boosted their price objective on shares of American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.54.

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.