Public Employees Retirement Association of Colorado lessened its holdings in American Tower Corp (NYSE:AMT) by 21.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 461,546 shares of the real estate investment trust’s stock after selling 125,282 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.10% of American Tower worth $102,062,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter valued at approximately $25,000. Nelson Roberts Investment Advisors LLC purchased a new stake in shares of American Tower during the 2nd quarter worth $27,000. Marquette Asset Management LLC purchased a new stake in shares of American Tower during the 3rd quarter worth $33,000. NewSquare Capital LLC lifted its position in shares of American Tower by 192.3% during the 2nd quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Finally, Next Capital Management LLC purchased a new stake in shares of American Tower during the 2nd quarter worth $31,000. 92.54% of the stock is owned by institutional investors.
NYSE:AMT traded up $0.18 during midday trading on Friday, hitting $205.87. 1,799,862 shares of the company were exchanged, compared to its average volume of 1,770,815. The company has a fifty day simple moving average of $220.99 and a 200 day simple moving average of $213.42. American Tower Corp has a fifty-two week low of $150.66 and a fifty-two week high of $242.00. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 4.40. The company has a market capitalization of $91.20 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43.
American Tower (NYSE:AMT) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.17. American Tower had a net margin of 20.58% and a return on equity of 27.12%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $1.85 EPS. American Tower’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that American Tower Corp will post 7.65 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Friday, September 27th were paid a dividend of $0.95 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Thursday, September 26th. American Tower’s dividend payout ratio (DPR) is currently 47.56%.
AMT has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of American Tower from $200.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. SunTrust Banks lifted their price objective on shares of American Tower to $230.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup lifted their price objective on shares of American Tower from $236.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Cowen lifted their price objective on shares of American Tower from $238.00 to $260.00 and gave the stock an “in-line” rating in a research report on Friday, November 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $215.79.
In related news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of American Tower stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total transaction of $206,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Craig Macnab sold 5,953 shares of American Tower stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $225.46, for a total transaction of $1,342,163.38. Following the sale, the director now owns 14,341 shares in the company, valued at $3,233,321.86. The disclosure for this sale can be found here. Insiders have sold a total of 141,524 shares of company stock worth $31,726,127 over the last quarter. 0.75% of the stock is owned by company insiders.
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 171,000 communications sites.
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