Investment Partners LTD. Sells 78 Shares of American Tower Co. (NYSE:AMT)

Investment Partners LTD. cut its stake in shares of American Tower Co. (NYSE:AMT) by 4.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,604 shares of the real estate investment trust’s stock after selling 78 shares during the period. Investment Partners LTD.’s holdings in American Tower were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AMT. Jennison Associates LLC increased its position in shares of American Tower by 41.0% in the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after purchasing an additional 1,541,029 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of American Tower by 2,329.8% in the third quarter. Daiwa Securities Group Inc. now owns 1,329,779 shares of the real estate investment trust’s stock worth $218,682,000 after purchasing an additional 1,275,052 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of American Tower by 16,195.9% in the fourth quarter. International Assets Investment Management LLC now owns 849,340 shares of the real estate investment trust’s stock worth $1,833,560,000 after purchasing an additional 844,128 shares during the last quarter. Wellington Management Group LLP increased its position in shares of American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after purchasing an additional 691,934 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in American Tower by 22.9% during the third quarter. Clearbridge Investments LLC now owns 3,255,988 shares of the real estate investment trust’s stock valued at $535,447,000 after acquiring an additional 607,199 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Rodney M. Smith sold 11,510 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares of the company’s stock, valued at $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Trading Down 0.7 %

AMT stock traded down $1.21 on Friday, reaching $171.69. The company’s stock had a trading volume of 1,701,397 shares, compared to its average volume of 2,597,943. The business has a fifty day simple moving average of $190.29 and a two-hundred day simple moving average of $193.97. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm has a market cap of $80.07 billion, a PE ratio of 53.97, a PEG ratio of 1.37 and a beta of 0.67. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.34 EPS. As a group, research analysts forecast that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, April 11th. American Tower’s dividend payout ratio is currently 203.77%.

Analyst Ratings Changes

A number of research analysts have commented on AMT shares. Barclays increased their price target on shares of American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Mizuho started coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price target on the stock. Finally, BMO Capital Markets dropped their price objective on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.36.

About American Tower

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.