Global Retirement Partners LLC Has $1.73 Million Holdings in American Tower Co. (REIT) (NYSE:AMT)


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Global Retirement Partners LLC lessened its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,698 shares of the real estate investment trust’s stock after selling 420 shares during the quarter. Global Retirement Partners LLC’s holdings in American Tower were worth $1,728,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FineMark National Bank & Trust increased its position in shares of American Tower by 4.8% during the third quarter. FineMark National Bank & Trust now owns 2,939 shares of the real estate investment trust’s stock valued at $710,000 after buying an additional 135 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in American Tower by 4.3% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 134,125 shares of the real estate investment trust’s stock worth $32,422,000 after purchasing an additional 5,500 shares during the last quarter. Wedge Capital Management L L P NC grew its position in American Tower by 28.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 66,079 shares of the real estate investment trust’s stock worth $14,832,000 after purchasing an additional 14,697 shares during the last quarter. Geneva Partners LLC grew its position in American Tower by 1.0% during the 3rd quarter. Geneva Partners LLC now owns 7,182 shares of the real estate investment trust’s stock worth $1,736,000 after purchasing an additional 70 shares during the last quarter. Finally, BP PLC grew its position in American Tower by 27.0% during the 3rd quarter. BP PLC now owns 73,776 shares of the real estate investment trust’s stock worth $17,821,000 after purchasing an additional 15,676 shares during the last quarter. 89.97% of the stock is currently owned by institutional investors.

NYSE AMT traded up $1.57 on Wednesday, hitting $216.48. The company had a trading volume of 78,956 shares, compared to its average volume of 2,641,963. The company has a market capitalization of $96.16 billion, a PE ratio of 50.81, a PEG ratio of 1.55 and a beta of 0.25. The company’s fifty day moving average price is $223.05 and its 200-day moving average price is $241.91. The company has a debt-to-equity ratio of 5.73, a current ratio of 1.35 and a quick ratio of 1.35. American Tower Co. has a 12-month low of $174.32 and a 12-month high of $272.20.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, November 3rd. The real estate investment trust reported $1.04 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.06). The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.97 billion. American Tower had a return on equity of 42.42% and a net margin of 24.08%. American Tower’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 EPS. On average, sell-side analysts anticipate that American Tower Co. will post 8.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 2nd. Stockholders of record on Monday, December 28th will be issued a dividend of $1.21 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.14. The ex-dividend date is Thursday, December 24th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.24%. American Tower’s dividend payout ratio is presently 62.61%.

In other news, EVP Olivier Puech sold 320 shares of the company’s stock in a transaction on Friday, January 8th. The shares were sold at an average price of $220.00, for a total transaction of $70,400.00. Following the completion of the sale, the executive vice president now owns 17,146 shares of the company’s stock, valued at $3,772,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven O. Vondran sold 1,500 shares of the company’s stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $232.00, for a total transaction of $348,000.00. Following the sale, the executive vice president now directly owns 23,526 shares of the company’s stock, valued at approximately $5,458,032. The disclosure for this sale can be found here. Insiders have sold 4,948 shares of company stock valued at $1,119,029 in the last ninety days. Insiders own 0.65% of the company’s stock.

AMT has been the topic of several research analyst reports. Credit Suisse Group boosted their target price on shares of American Tower from $300.00 to $301.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 3rd. BidaskClub downgraded shares of American Tower from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 10th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $258.00 price objective for the company in a research note on Monday, October 19th. Raymond James decreased their price objective on shares of American Tower from $276.00 to $258.00 and set an “outperform” rating for the company in a research note on Tuesday, November 3rd. Finally, Morgan Stanley decreased their price objective on shares of American Tower from $250.00 to $244.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. American Tower currently has an average rating of “Buy” and a consensus price target of $272.50.

American Tower Profile

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 approximately 181,000 communications sites.

See Also: Insider Trading

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

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