Natixis Advisors LLC Acquires 70,045 Shares of American Tower Corporation (NYSE:AMT)

Key Points

• Natixis Advisors LLC increased its stake in American Tower Corporation by 44.7%, acquiring an additional 70,045 shares, bringing its total holdings to 226,584 shares valued at approximately $49.3 million.
• American Tower reported $2.60 earnings per share for the last quarter, beating estimates slightly, while experiencing a 9.4% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $1.70 per share, representing an annualized dividend yield of 3.3% and a notably high payout ratio of 247.27%.

Natixis Advisors LLC lifted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 44.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 226,584 shares of the real estate investment trust's stock after buying an additional 70,045 shares during the quarter. Natixis Advisors LLC's holdings in American Tower were worth $49,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cohen & Steers Inc. lifted its stake in American Tower by 21.8% during the fourth quarter. Cohen & Steers Inc. now owns 19,176,365 shares of the real estate investment trust's stock worth $3,516,890,000 after purchasing an additional 3,437,602 shares during the last quarter. FMR LLC grew its holdings in American Tower by 5.0% during the fourth quarter. FMR LLC now owns 11,179,269 shares of the real estate investment trust's stock worth $2,050,390,000 after acquiring an additional 537,136 shares during the period. Capital Research Global Investors grew its holdings in 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 valued at $1,570,547,000 after purchasing an additional 3,421,413 shares during the last quarter. Principal Financial Group Inc. grew its holdings in American Tower by 3.7% in the first quarter. Principal Financial Group Inc. now owns 6,136,981 shares of the real estate investment trust's stock valued at $1,335,407,000 after purchasing an additional 220,565 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of American Tower by 8.3% in the fourth quarter. Invesco Ltd. now owns 5,941,586 shares of the real estate investment trust's stock valued at $1,089,746,000 after acquiring an additional 455,225 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of American Tower stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

Shares of AMT traded down $2.23 during trading hours on Tuesday, reaching $210.75. The stock had a trading volume of 879,881 shares, compared to its average volume of 2,623,216. American Tower Corporation has a 12 month low of $172.51 and a 12 month high of $243.56. The stock has a market capitalization of $98.66 billion, a PE ratio of 76.65, a PEG ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a quick ratio of 0.95 and a current ratio of 0.95. The company's 50-day moving average is $218.75 and its two-hundred day moving average is $210.83.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The company had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.58 billion. During the same period in the prior year, the company earned $2.79 EPS. American Tower's revenue was down 9.4% compared to the same quarter last year. Research analysts expect that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 13th were paid a $1.70 dividend. The ex-dividend date was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. American Tower's dividend payout ratio (DPR) is currently 247.27%.

Analyst Ratings Changes

A number of research firms have recently commented on AMT. The Goldman Sachs Group restated a "buy" rating on shares of American Tower in a report on Tuesday, July 29th. HSBC lowered American Tower from a "buy" rating to a "hold" rating and set a $235.00 target price for the company. in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. BMO Capital Markets reaffirmed an "outperform" rating and set a $245.00 target price (down previously from $250.00) on shares of American Tower in a research note on Wednesday, July 30th. Finally, Barclays lifted their price target on American Tower from $223.00 to $246.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $243.88.

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.