BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 11,520 Shares of American Tower Co. (NYSE:AMT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of American Tower Co. (NYSE:AMT) by 12.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,919 shares of the real estate investment trust’s stock after selling 11,520 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in American Tower were worth $18,121,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Balentine LLC bought a new stake in American Tower in the third quarter valued at approximately $586,000. Czech National Bank raised its stake in American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after buying an additional 6,163 shares during the period. Banque Cantonale Vaudoise raised its stake in American Tower by 46.8% in the third quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock valued at $5,980,000 after buying an additional 8,195 shares during the period. Savvy Advisors Inc. raised its stake in American Tower by 268.2% in the third quarter. Savvy Advisors Inc. now owns 4,463 shares of the real estate investment trust’s stock valued at $1,038,000 after buying an additional 3,251 shares during the period. Finally, Atria Investments Inc raised its stake in American Tower by 9.6% in the third quarter. Atria Investments Inc now owns 44,730 shares of the real estate investment trust’s stock valued at $10,402,000 after buying an additional 3,934 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMT shares. Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Mizuho upped their target price on American Tower from $205.00 to $221.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on American Tower from $212.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $235.54.

American Tower Stock Down 0.1 %

Shares of AMT opened at $209.00 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market capitalization of $97.66 billion, a price-to-earnings ratio of 88.19, a PEG ratio of 1.39 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a fifty day moving average of $215.95 and a 200-day moving average of $212.46.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the company posted $2.58 earnings per share. The firm’s revenue was down 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Wednesday, October 9th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.10%. The ex-dividend date was Wednesday, October 9th. American Tower’s dividend payout ratio is currently 273.42%.

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.