Winslow Capital Management LLC Has $371.83 Million Position in American Tower Corp (AMT)

Winslow Capital Management LLC increased its stake in shares of American Tower Corp (NYSE:AMT) by 14.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,559,071 shares of the real estate investment trust’s stock after buying an additional 325,180 shares during the quarter. American Tower comprises 1.8% of Winslow Capital Management LLC’s holdings, making the stock its 17th largest position. Winslow Capital Management LLC’s holdings in American Tower were worth $371,834,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in AMT. BlackRock Inc. lifted its position in 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 worth $4,233,258,000 after buying an additional 2,410,425 shares in the last quarter. Resolution Capital Ltd lifted its position in American Tower by 291.1% during the third quarter. Resolution Capital Ltd now owns 1,522,702 shares of the real estate investment trust’s stock worth $187,429,000 after buying an additional 1,133,323 shares in the last quarter. AustralianSuper Pty Ltd purchased a new position in American Tower during the second quarter worth approximately $155,992,000. FMR LLC lifted its position in American Tower by 6.7% during the third quarter. FMR LLC now owns 15,195,387 shares of the real estate investment trust’s stock worth $2,207,889,000 after buying an additional 951,620 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in American Tower by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock worth $869,663,000 after buying an additional 713,894 shares in the last quarter. Hedge funds and other institutional investors own 92.94% of the company’s stock.

Shares of AMT stock traded down $0.97 on Friday, hitting $159.34. The stock had a trading volume of 7,200 shares, compared to its average volume of 2,657,915. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. The company has a market capitalization of $70.61 billion, a PE ratio of 25.04, a P/E/G ratio of 1.55 and a beta of 0.59. American Tower Corp has a 1 year low of $130.37 and a 1 year high of $167.09.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.02. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.76 billion. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 EPS. Research analysts predict that American Tower Corp will post 7.58 EPS for the current fiscal year.

A number of brokerages recently commented on AMT. Wells Fargo & Co lifted their price objective on American Tower from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Friday, November 16th. Citigroup downgraded American Tower from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $161.00 to $176.00 in a research report on Wednesday, October 31st. KeyCorp lifted their target price on American Tower from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Wednesday, October 31st. Barclays lifted their target price on American Tower from $156.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, October 31st. Finally, Bank of America set a $172.00 target price on American Tower and gave the company a “buy” rating in a research report on Wednesday, October 31st. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $165.40.

In related news, insider Steven C. Marshall sold 163,166 shares of the business’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $156.86, for a total value of $25,594,218.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David E. Sharbutt sold 3,590 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $157.06, for a total value of $563,845.40. Following the completion of the sale, the director now owns 8,371 shares in the company, valued at approximately $1,314,749.26. The disclosure for this sale can be found here. Insiders sold a total of 340,613 shares of company stock worth $54,127,476 in the last quarter. Company insiders own 0.87% of the company’s stock.

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American Tower 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 170,000 communications sites.

Further Reading: Fiduciary

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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