Bp Plc Has $6.99 Million Position in American Tower Corp (AMT)

Bp Plc cut its holdings in American Tower Corp (NYSE:AMT) by 44.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,000 shares of the real estate investment trust’s stock after selling 39,000 shares during the quarter. Bp Plc’s holdings in American Tower were worth $6,992,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vident Investment Advisory LLC boosted its stake in shares of American Tower by 166.9% in the third quarter. Vident Investment Advisory LLC now owns 4,019 shares of the real estate investment trust’s stock valued at $550,000 after buying an additional 2,513 shares in the last quarter. LVM Capital Management Ltd. MI boosted its stake in shares of American Tower by 11.6% in the fourth quarter. LVM Capital Management Ltd. MI now owns 57,741 shares of the real estate investment trust’s stock valued at $8,238,000 after buying an additional 5,986 shares in the last quarter. BB&T Corp boosted its stake in shares of American Tower by 3.1% in the third quarter. BB&T Corp now owns 37,161 shares of the real estate investment trust’s stock valued at $5,079,000 after buying an additional 1,104 shares in the last quarter. Heritage Investors Management Corp boosted its stake in shares of American Tower by 13.9% in the third quarter. Heritage Investors Management Corp now owns 23,902 shares of the real estate investment trust’s stock valued at $3,267,000 after buying an additional 2,915 shares in the last quarter. Finally, Zions Bancorporation boosted its stake in shares of American Tower by 4,708.4% in the third quarter. Zions Bancorporation now owns 3,991 shares of the real estate investment trust’s stock valued at $546,000 after buying an additional 3,908 shares in the last quarter. Hedge funds and other institutional investors own 91.75% of the company’s stock.

In other news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $142.52, for a total value of $4,940,740.84. Following the completion of the transaction, the chairman now directly owns 305,374 shares of the company’s stock, valued at $43,521,902.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total value of $715,800.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,251 shares of company stock valued at $11,026,134. Insiders own 0.86% of the company’s stock.

A number of research firms recently weighed in on AMT. Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a research note on Tuesday. KeyCorp set a $156.00 price objective on American Tower and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Macquarie lifted their price objective on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. ValuEngine raised American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Finally, Cowen reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company. American Tower currently has an average rating of “Buy” and an average target price of $158.60.

American Tower Corp (AMT) opened at $133.57 on Friday. The stock has a market capitalization of $60,039.84, a price-to-earnings ratio of 21.67, a P/E/G ratio of 1.33 and a beta of 0.77. American Tower Corp has a 1-year low of $103.47 and a 1-year high of $155.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61.

American Tower declared that its board has authorized a share buyback program on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.10%. This is a boost from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, December 27th. American Tower’s payout ratio is 106.46%.

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About American Tower

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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