American Tower Corporation $AMT Shares Sold by Sarasin & Partners LLP

Sarasin & Partners LLP lessened its holdings in American Tower Corporation (NYSE:AMT) by 1.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 849,693 shares of the real estate investment trust’s stock after selling 13,473 shares during the quarter. American Tower comprises about 1.6% of Sarasin & Partners LLP’s holdings, making the stock its 21st biggest position. Sarasin & Partners LLP’s holdings in American Tower were worth $138,984,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMT. J. Stern & Co. LLP increased its position in shares of American Tower by 28,121.1% in the fourth quarter. J. Stern & Co. LLP now owns 37,686,978 shares of the real estate investment trust’s stock valued at $6,616,703,000 after buying an additional 37,553,436 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in American Tower by 20,721.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,712,672 shares of the real estate investment trust’s stock worth $1,705,254,000 after acquiring an additional 9,666,025 shares in the last quarter. Norges Bank purchased a new position in American Tower during the fourth quarter valued at $1,171,180,000. Lazard Asset Management LLC grew its position in shares of American Tower by 1,984.8% in the third quarter. Lazard Asset Management LLC now owns 4,464,382 shares of the real estate investment trust’s stock valued at $858,552,000 after purchasing an additional 4,250,242 shares during the period. Finally, Capital International Investors increased its stake in shares of American Tower by 157.0% during the fourth quarter. Capital International Investors now owns 3,871,368 shares of the real estate investment trust’s stock worth $679,696,000 after purchasing an additional 2,364,898 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, EVP Ruth T. Dowling sold 1,106 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $174.96, for a total transaction of $193,505.76. Following the completion of the transaction, the executive vice president directly owned 27,711 shares of the company’s stock, valued at approximately $4,848,316.56. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert Joseph Meyer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $178.89, for a total transaction of $894,450.00. Following the completion of the sale, the chief financial officer owned 21,428 shares in the company, valued at $3,833,254.92. The trade was a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,791 shares of company stock worth $1,204,091. 0.08% of the stock is owned by company insiders.

American Tower Stock Up 1.7%

American Tower stock opened at $170.86 on Friday. The company has a market capitalization of $79.60 billion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 2.67 and a beta of 0.90. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.52 and a current ratio of 0.52. American Tower Corporation has a fifty-two week low of $160.06 and a fifty-two week high of $214.79. The firm has a 50 day moving average price of $174.80 and a 200 day moving average price of $178.24.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Friday, June 12th were issued a $1.79 dividend. The ex-dividend date was Friday, June 12th. This represents a $7.16 dividend on an annualized basis and a yield of 4.2%. American Tower’s dividend payout ratio (DPR) is 98.49%.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Scotiabank restated an “outperform” rating on shares of American Tower in a research report on Wednesday, July 29th. Royal Bank Of Canada raised shares of American Tower from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $195.00 to $205.00 in a report on Friday, June 26th. TD Cowen raised their price target on shares of American Tower from $225.00 to $227.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 target price on shares of American Tower in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group set a $210.00 price target on American Tower in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $215.19.

American Tower Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.