American Tower Corp (AMT) Position Reduced by Riverhead Capital Management LLC

Riverhead Capital Management LLC trimmed its holdings in shares of American Tower Corp (NYSE:AMT) by 16.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,176 shares of the real estate investment trust’s stock after selling 3,920 shares during the quarter. Riverhead Capital Management LLC’s holdings in American Tower were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Mount Yale Investment Advisors LLC grew its position in American Tower by 354.4% during the second quarter. Mount Yale Investment Advisors LLC now owns 718 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 560 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of American Tower by 75.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,029 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 441 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of American Tower in the 3rd quarter worth about $157,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of American Tower by 111.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,140 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 600 shares in the last quarter. Finally, Sun Life Financial INC boosted its holdings in shares of American Tower by 311.3% in the 2nd quarter. Sun Life Financial INC now owns 1,197 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 906 shares in the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.

In other American Tower news, CFO Thomas A. Bartlett sold 93,338 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $165.00, for a total transaction of $15,400,770.00. Following the completion of the transaction, the chief financial officer now owns 133,660 shares of the company’s stock, valued at approximately $22,053,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Olivier Puech sold 10,747 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $161.87, for a total value of $1,739,616.89. Following the transaction, the executive vice president now directly owns 20,543 shares of the company’s stock, valued at approximately $3,325,295.41. The disclosure for this sale can be found here. Insiders have sold a total of 338,360 shares of company stock valued at $53,958,953 in the last ninety days. 0.87% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently issued reports on the company. Argus upped their price objective on American Tower from $154.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, August 20th. Moffett Nathanson cut American Tower from a “buy” rating to a “neutral” rating and set a $164.00 price objective for the company. in a report on Monday, December 3rd. ValuEngine upgraded American Tower from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Deutsche Bank cut American Tower from a “buy” rating to a “hold” rating and cut their price objective for the stock from $169.00 to $167.00 in a report on Thursday, November 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. American Tower has an average rating of “Buy” and a consensus price target of $165.31.

AMT opened at $166.43 on Friday. The company has a market cap of $73.84 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.62 and a beta of 0.62. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.72 and a quick ratio of 0.72. American Tower Corp has a one year low of $130.37 and a one year high of $168.58.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.02. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.76 billion. American Tower had a return on equity of 18.55% and a net margin of 17.07%. American Tower’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 EPS. Equities research analysts forecast that American Tower Corp will post 7.58 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 14th. Shareholders of record on Thursday, December 27th will be given a dividend of $0.84 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Wednesday, December 26th. This represents a $3.36 dividend on an annualized basis and a yield of 2.02%. American Tower’s dividend payout ratio is presently 49.53%.

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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 170,000 communications sites.

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

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