Healthcare of Ontario Pension Plan Trust Fund Increases Stock Holdings in American Tower Co. (NYSE:AMT)

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of American Tower Co. (NYSE:AMT) by 107.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,900 shares of the real estate investment trust’s stock after buying an additional 149,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in American Tower were worth $67,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NBT Bank N A NY grew its stake in American Tower by 3.3% during the 2nd quarter. NBT Bank N A NY now owns 1,693 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 54 shares during the last quarter. CX Institutional grew its stake in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the last quarter. O Brien Greene & Co. Inc grew its stake in American Tower by 2.3% during the 2nd quarter. O Brien Greene & Co. Inc now owns 2,476 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 55 shares during the last quarter. Palumbo Wealth Management LLC grew its stake in American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares during the last quarter. Finally, Tyche Wealth Partners LLC grew its stake in American Tower by 4.9% during the 2nd quarter. Tyche Wealth Partners LLC now owns 1,245 shares of the real estate investment trust’s stock valued at $242,000 after purchasing an additional 58 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on AMT. Mizuho boosted their price target on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Barclays decreased their price objective on American Tower from $255.00 to $251.00 and set an “overweight” rating for the company in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on American Tower from $212.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company cut American Tower from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $245.00 to $230.00 in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $235.54.

American Tower Price Performance

AMT stock opened at $208.09 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $217.47 and a 200-day simple moving average of $212.16. The firm has a market capitalization of $97.24 billion, a PE ratio of 87.80, a price-to-earnings-growth ratio of 1.38 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

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 company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.77 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. Equities research analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $6.48 annualized dividend and a yield of 3.11%. 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.