Fort Washington Investment Advisors Inc. OH Reduces Stock Holdings in American Tower Co. (NYSE:AMT)

Fort Washington Investment Advisors Inc. OH lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 4.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,739 shares of the real estate investment trust’s stock after selling 17,438 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.08% of American Tower worth $76,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of American Tower during the 4th quarter valued at approximately $1,164,851,000. Cohen & Steers Inc. increased its holdings in American Tower by 21.8% in the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust’s stock valued at $3,516,890,000 after buying an additional 3,437,602 shares in the last quarter. Capital Research Global Investors raised its position in shares of American Tower by 66.5% in the fourth quarter. Capital Research Global Investors now owns 8,563,046 shares of the real estate investment trust’s stock worth $1,570,547,000 after acquiring an additional 3,421,413 shares during the period. Capital World Investors boosted its stake in shares of American Tower by 160.6% during the 4th quarter. Capital World Investors now owns 4,920,100 shares of the real estate investment trust’s stock worth $902,396,000 after acquiring an additional 3,032,005 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of American Tower by 23,627.3% during the 1st quarter. GAMMA Investing LLC now owns 1,701,957 shares of the real estate investment trust’s stock valued at $370,346,000 after acquiring an additional 1,694,784 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of recent analyst reports. Scotiabank increased their price target on American Tower from $234.00 to $248.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. Raymond James increased their target price on American Tower from $231.00 to $251.00 and gave the company a “strong-buy” rating in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price target on shares of American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Bank of America initiated coverage on shares of American Tower in a report on Monday, May 19th. They set a “buy” rating and a $255.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $240.25.

American Tower Stock Down 0.2%

Shares of AMT opened at $214.28 on Thursday. The stock has a fifty day simple moving average of $214.60 and a two-hundred day simple moving average of $203.01. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $100.31 billion, a PE ratio of 90.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.81. American Tower Co. has a 52-week low of $172.51 and a 52-week high of $243.56.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.34. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. American Tower’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, equities analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.70 per share. The ex-dividend date is Friday, June 13th. This represents a $6.80 annualized dividend and a yield of 3.17%. American Tower’s dividend payout ratio (DPR) is 174.81%.

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.