Tiaa Fsb Sells 5,285 Shares of American Tower Co. (REIT) (NYSE:AMT)

Tiaa Fsb lessened its stake in American Tower Co. (REIT) (NYSE:AMT) by 4.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,596 shares of the real estate investment trust’s stock after selling 5,285 shares during the quarter. Tiaa Fsb’s holdings in American Tower were worth $31,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. NEXT Financial Group Inc lifted its holdings in shares of American Tower by 1.4% in the second quarter. NEXT Financial Group Inc now owns 2,819 shares of the real estate investment trust’s stock valued at $762,000 after purchasing an additional 38 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of American Tower by 7.1% during the second quarter. Parkside Financial Bank & Trust now owns 631 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 42 shares during the last quarter. Quest Capital Management Inc. ADV increased its position in shares of American Tower by 2.7% during the second quarter. Quest Capital Management Inc. ADV now owns 1,640 shares of the real estate investment trust’s stock valued at $443,000 after acquiring an additional 43 shares during the last quarter. Heritage Wealth Advisors increased its position in shares of American Tower by 14.5% during the second quarter. Heritage Wealth Advisors now owns 348 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 44 shares during the last quarter. Finally, Adams Chetwood Wealth Management LLC increased its position in shares of American Tower by 1.1% during the second quarter. Adams Chetwood Wealth Management LLC now owns 4,103 shares of the real estate investment trust’s stock valued at $1,108,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 89.57% of the company’s stock.

A number of analysts have issued reports on the company. Raymond James decreased their target price on American Tower from $296.00 to $294.00 and set an “outperform” rating for the company in a research report on Monday, November 1st. Credit Suisse Group lifted their price target on American Tower from $324.00 to $328.00 and gave the company an “outperform” rating in a research report on Friday, October 29th. Morgan Stanley lifted their price target on American Tower from $270.00 to $316.00 and gave the company an “equal weight” rating in a research report on Friday, September 10th. They noted that the move was a valuation call. Argus lifted their price objective on American Tower from $288.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, August 12th. Finally, Wells Fargo & Company dropped their price objective on American Tower from $305.00 to $285.00 and set an “overweight” rating for the company in a research note on Friday, November 19th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $297.71.

NYSE:AMT traded up $3.48 during mid-day trading on Thursday, reaching $265.48. 1,321,092 shares of the company’s stock traded hands, compared to its average volume of 1,812,782. American Tower Co. has a 12-month low of $197.50 and a 12-month high of $303.72. The firm has a market capitalization of $120.90 billion, a price-to-earnings ratio of 48.27, a PEG ratio of 2.18 and a beta of 0.30. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.30 and a quick ratio of 1.30. The company has a 50 day moving average price of $274.67 and a 200-day moving average price of $274.72.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.69). American Tower had a net margin of 27.44% and a return on equity of 39.34%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, analysts forecast that American Tower Co. will post 9.18 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 15th. Shareholders of record on Tuesday, September 28th were issued a dividend of $1.31 per share. This is an increase from American Tower’s previous quarterly dividend of $1.27. The ex-dividend date was Monday, September 27th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.97%. American Tower’s dividend payout ratio is 95.27%.

In other news, Director David E. Sharbutt sold 739 shares of the business’s stock in a transaction that occurred on Friday, September 3rd. The stock was sold at an average price of $300.71, for a total value of $222,224.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joann A. Reed sold 866 shares of the company’s stock in a transaction that occurred on Tuesday, November 16th. The shares were sold at an average price of $260.50, for a total value of $225,593.00. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.

American Tower Company Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

Featured Story: Dividend Aristocrat Index

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (REIT) (NYSE:AMT).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.