MetLife Investment Management LLC Has $26.70 Million Holdings in American Tower Co. (NYSE:AMT)

MetLife Investment Management LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 2.5% in the second quarter, Holdings Channel reports. The fund owned 137,683 shares of the real estate investment trust’s stock after acquiring an additional 3,342 shares during the period. MetLife Investment Management LLC’s holdings in American Tower were worth $26,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AMT. MV Capital Management Inc. increased its holdings in shares of American Tower by 75.3% during the 2nd quarter. MV Capital Management Inc. now owns 135 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 58 shares during the period. Riverview Trust Co acquired a new stake in shares of American Tower during the 2nd quarter worth approximately $27,000. Pinnacle Holdings LLC bought a new stake in shares of American Tower during the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC acquired a new position in shares of American Tower in the second quarter valued at $30,000. Finally, Sittner & Nelson LLC raised its stake in shares of American Tower by 151.7% in the 1st quarter. Sittner & Nelson LLC now owns 151 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 91 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

American Tower Trading Up 1.0 %

AMT stock opened at $199.64 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.15. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $235.57. The company has a market cap of $93.07 billion, a P/E ratio of 130.48, a PEG ratio of 1.70 and a beta of 0.63. The business has a fifty day moving average of $173.23 and a 200-day moving average of $182.69.

American Tower Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Wednesday, October 11th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, October 10th. This is an increase from American Tower’s previous quarterly dividend of $1.57. This represents a $6.48 dividend on an annualized basis and a yield of 3.25%. American Tower’s dividend payout ratio is presently 423.53%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMT. Raymond James lowered their target price on shares of American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 22nd. Royal Bank of Canada dropped their target price on American Tower from $233.00 to $230.00 and set an “outperform” rating for the company in a report on Tuesday, August 1st. StockNews.com initiated coverage on American Tower in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley dropped their price objective on American Tower from $212.00 to $169.00 and set an “equal weight” rating for the company in a research note on Monday, October 16th. Finally, Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.60.

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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.