American Tower Co. (NYSE:AMT) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in American Tower Co. (NYSE:AMT) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,470 shares of the real estate investment trust’s stock after selling 223 shares during the quarter. Intech Investment Management LLC’s holdings in American Tower were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the period. Adelante Capital Management LLC raised its holdings in American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the period. Raymond James Financial Inc. acquired a new position in American Tower in the 4th quarter worth about $193,246,000. Daiwa Securities Group Inc. raised its holdings in American Tower by 456.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,124,633 shares of the real estate investment trust’s stock worth $206,269,000 after purchasing an additional 922,701 shares during the period. Finally, State Street Corp raised its holdings in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of analyst reports. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Citigroup boosted their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company upgraded American Tower from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $210.00 to $230.00 in a research note on Monday, March 17th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $229.43.

American Tower Trading Up 1.0 %

Shares of American Tower stock opened at $216.41 on Friday. The firm has a market capitalization of $101.16 billion, a price-to-earnings ratio of 91.31, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50 day moving average of $195.99 and a 200 day moving average of $205.61.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.29 earnings per share. As a group, research analysts predict that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.14%. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. American Tower’s dividend payout ratio is 141.37%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

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.