QS Investors LLC trimmed its holdings in shares of American Tower Corp (NYSE:AMT) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,946 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. QS Investors LLC’s holdings in American Tower were worth $5,212,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its position in American Tower by 3.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 67,847 shares of the real estate investment trust’s stock valued at $9,858,000 after acquiring an additional 2,500 shares during the period. Bessemer Group Inc. grew its holdings in shares of American Tower by 8.9% during the third quarter. Bessemer Group Inc. now owns 5,772 shares of the real estate investment trust’s stock valued at $839,000 after buying an additional 470 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of American Tower by 6.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 66,049 shares of the real estate investment trust’s stock worth $9,597,000 after purchasing an additional 4,020 shares during the last quarter. MML Investors Services LLC raised its position in American Tower by 64.9% in the 3rd quarter. MML Investors Services LLC now owns 12,606 shares of the real estate investment trust’s stock valued at $1,832,000 after buying an additional 4,962 shares during the last quarter. Finally, Norinchukin Bank The lifted its position in shares of American Tower by 13.3% during the third quarter. Norinchukin Bank The now owns 56,701 shares of the real estate investment trust’s stock valued at $8,239,000 after purchasing an additional 6,658 shares in the last quarter. Institutional investors own 94.74% of the company’s stock.
AMT has been the subject of a number of research reports. Oppenheimer reissued a “market perform” rating and issued a $173.00 price target on shares of American Tower in a research note on Thursday, February 28th. They noted that the move was a valuation call. Macquarie reiterated a “buy” rating and set a $210.00 target price on shares of American Tower in a research note on Thursday, February 28th. Bank of America increased their price target on shares of American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Wells Fargo & Co increased their price objective on shares of American Tower from $176.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, February 28th. Finally, CIBC restated a “market perform” rating on shares of American Tower in a research report on Thursday, February 28th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $176.88.
In other American Tower news, CFO Thomas A. Bartlett sold 51,203 shares of the business’s stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $165.00, for a total value of $8,448,495.00. Following the completion of the transaction, the chief financial officer now directly owns 165,433 shares in the company, valued at $27,296,445. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amit Sharma sold 32,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $194.35, for a total transaction of $6,316,375.00. Following the sale, the executive vice president now directly owns 177,193 shares of the company’s stock, valued at $34,437,459.55. The disclosure for this sale can be found here. Insiders sold 119,753 shares of company stock valued at $21,218,220 in the last three months. 0.87% of the stock is currently owned by insiders.
NYSE:AMT traded up $2.71 during midday trading on Friday, hitting $195.76. The stock had a trading volume of 1,656,486 shares, compared to its average volume of 2,054,245. The stock has a market cap of $86.36 billion, a P/E ratio of 24.50, a price-to-earnings-growth ratio of 1.65 and a beta of 0.68. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 3.12. American Tower Corp has a one year low of $133.53 and a one year high of $198.19.
American Tower (NYSE:AMT) last issued its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.25 by ($1.63). American Tower had a return on equity of 19.86% and a net margin of 16.62%. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $0.51 earnings per share. The firm’s revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts anticipate that American Tower Corp will post 7.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Thursday, April 11th will be paid a $0.90 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.84%. American Tower’s payout ratio is 42.05%.
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 170,000 communications sites.