IFM Investors Pty Ltd Has $33.74 Million Holdings in American Tower Co. (NYSE:AMT)

IFM Investors Pty Ltd lowered its stake in shares of American Tower Co. (NYSE:AMT) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 145,079 shares of the real estate investment trust’s stock after selling 79 shares during the period. IFM Investors Pty Ltd’s holdings in American Tower were worth $33,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Czech National Bank increased its position in shares of American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in American Tower by 13.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after buying an additional 4,660 shares in the last quarter. Tidal Investments LLC raised its stake in American Tower by 27.7% in the 1st quarter. Tidal Investments LLC now owns 20,401 shares of the real estate investment trust’s stock worth $4,029,000 after purchasing an additional 4,430 shares in the last quarter. Cetera Advisors LLC boosted its stake in shares of American Tower by 29.0% in the first quarter. Cetera Advisors LLC now owns 41,284 shares of the real estate investment trust’s stock valued at $8,157,000 after buying an additional 9,275 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of American Tower by 5.3% during the 1st quarter. Nordea Investment Management AB now owns 871,635 shares of the real estate investment trust’s stock valued at $172,061,000 after acquiring an additional 43,531 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

Shares of AMT stock traded up $0.61 on Thursday, reaching $226.88. The company’s stock had a trading volume of 507,793 shares, compared to its average volume of 2,267,560. American Tower Co. has a 1 year low of $160.49 and a 1 year high of $243.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. The company has a market capitalization of $105.97 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 1.08 and a beta of 0.83. The stock’s fifty day simple moving average is $228.58 and its 200-day simple moving average is $207.19.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). American Tower had a return on equity of 23.06% and a net margin of 21.95%. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company earned $2.46 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts forecast that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Wednesday, October 9th will be given a $1.62 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.86%. American Tower’s dividend payout ratio (DPR) is currently 121.80%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Scotiabank boosted their price target on American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday, July 31st. TD Cowen increased their price target on American Tower from $226.00 to $239.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Mizuho boosted their target price on shares of American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Barclays raised their price target on shares of American Tower from $223.00 to $255.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets increased their target price on American Tower from $246.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $237.92.

Insider Transactions at American Tower

In related news, CEO Steven O. Vondran sold 21,537 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $230.00, for a total transaction of $4,953,510.00. Following the transaction, the chief executive officer now directly owns 61,843 shares in the company, valued at approximately $14,223,890. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $232.93, for a total transaction of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven O. Vondran sold 21,537 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now directly owns 61,843 shares in the company, valued at $14,223,890. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,723 shares of company stock valued at $7,795,397 in the last three months. 0.18% of the stock is currently owned by company insiders.

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.