Voya Investment Management LLC Acquires 177,568 Shares of American Tower Corp (AMT)
Voya Investment Management LLC boosted its holdings in shares of American Tower Corp (NYSE:AMT) by 11.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,684,488 shares of the real estate investment trust’s stock after buying an additional 177,568 shares during the period. Voya Investment Management LLC owned about 0.38% of American Tower worth $242,852,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of American Tower by 8.9% during the second quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock valued at $4,233,258,000 after acquiring an additional 2,410,425 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of American Tower by 50.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,318,298 shares of the real estate investment trust’s stock valued at $772,961,000 after acquiring an additional 1,782,280 shares during the period. AustralianSuper Pty Ltd bought a new position in shares of American Tower during the second quarter valued at $155,992,000. Atlanta Capital Management Co. L L C lifted its holdings in shares of American Tower by 320.1% during the first quarter. Atlanta Capital Management Co. L L C now owns 726,943 shares of the real estate investment trust’s stock valued at $105,654,000 after acquiring an additional 553,893 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of American Tower by 55.8% during the first quarter. Millennium Management LLC now owns 1,229,304 shares of the real estate investment trust’s stock valued at $178,667,000 after acquiring an additional 440,299 shares during the period. Hedge funds and other institutional investors own 93.29% of the company’s stock.
A number of research analysts have issued reports on AMT shares. Morgan Stanley cut their price objective on American Tower from $157.00 to $154.00 and set an “overweight” rating for the company in a report on Thursday, May 31st. Wells Fargo & Co lifted their price objective on American Tower from $150.00 to $158.00 and gave the company an “outperform” rating in a report on Tuesday, July 3rd. Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a report on Friday, July 6th. Raymond James cut American Tower from an “outperform” rating to a “market perform” rating in a report on Monday, July 9th. Finally, JPMorgan Chase & Co. cut American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 price objective for the company. in a report on Tuesday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $162.20.
Shares of American Tower stock traded down $1.35 during trading on Friday, reaching $146.74. The company’s stock had a trading volume of 10,307 shares, compared to its average volume of 1,205,124. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.99. American Tower Corp has a one year low of $130.37 and a one year high of $155.28. The stock has a market capitalization of $65.07 billion, a price-to-earnings ratio of 23.06, a P/E/G ratio of 1.57 and a beta of 0.82.
American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($1.04). American Tower had a net margin of 16.34% and a return on equity of 16.72%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.75 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. sell-side analysts anticipate that American Tower Corp will post 7.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Friday, September 28th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from American Tower’s previous quarterly dividend of $0.77. American Tower’s payout ratio is currently 48.28%.
About American Tower
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 approximately 170,000 communications sites.
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