Fiduciary Trust Co Has $13.88 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Fiduciary Trust Co increased its position in American Tower Co. (NYSE:AMT) by 6.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,687 shares of the real estate investment trust’s stock after acquiring an additional 3,789 shares during the quarter. Fiduciary Trust Co’s holdings in American Tower were worth $13,881,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC increased its position in American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Ameriprise Financial Inc. raised its position in American Tower by 41.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after purchasing an additional 1,885,421 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in American Tower by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after buying an additional 243,061 shares during the period. Clearbridge Investments LLC grew its position in shares of American Tower by 8.9% in the 2nd quarter. Clearbridge Investments LLC now owns 3,705,145 shares of the real estate investment trust’s stock valued at $720,206,000 after buying an additional 302,676 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of American Tower by 6.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,537,892 shares of the real estate investment trust’s stock valued at $822,772,000 after buying an additional 226,999 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT opened at $209.31 on Thursday. The firm has a 50-day moving average price of $216.94 and a 200-day moving average price of $212.14. The company has a market capitalization of $97.81 billion, a price-to-earnings ratio of 88.32, a PEG ratio of 1.38 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month 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 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 analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. Equities analysts expect 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. This represents a $6.48 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AMT shares. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Royal Bank of Canada increased their price objective on shares of American Tower from $225.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Mizuho lifted their price objective on American Tower from $205.00 to $221.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $245.00 to $230.00 in a research note on Thursday, October 10th. Four investment 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 company. According to MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average 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.