American Tower Corp (AMT) Shares Sold by QS Investors LLC

American Tower Corp (AMT) Shares Sold by QS Investors LLC

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.

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