American Tower Co. (NYSE:AMT) Position Reduced by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lowered its position in shares of American Tower Co. (NYSE:AMT) by 36.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,418 shares of the real estate investment trust’s stock after selling 129,580 shares during the quarter. UniSuper Management Pty Ltd’s holdings in American Tower were worth $41,894,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares during the period. Geode Capital Management LLC grew its holdings in shares of American Tower by 1.9% during the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after buying an additional 204,426 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in American Tower by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock valued at $975,065,000 after buying an additional 107,345 shares during the period. Franklin Resources Inc. lifted its stake in American Tower by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after acquiring an additional 38,436 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in American Tower by 5.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,111,335 shares of the real estate investment trust’s stock worth $956,132,000 after acquiring an additional 224,261 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on AMT shares. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company upgraded shares of American Tower from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $210.00 to $230.00 in a report on Monday, March 17th. Barclays increased their price objective on American Tower from $214.00 to $223.00 and gave the stock an “overweight” rating in a report on Friday, March 21st. Morgan Stanley cut their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Finally, Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $229.43.

American Tower Stock Up 0.2 %

American Tower stock opened at $209.91 on Thursday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a fifty day moving average price of $197.91 and a two-hundred day moving average price of $204.94. The firm has a market cap of $98.12 billion, a price-to-earnings ratio of 88.57, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 EPS. As a group, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current year.

American Tower Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be paid a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 annualized dividend and a dividend yield of 3.24%. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

American Tower Company 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.