IBM Retirement Fund decreased its position in shares of American Tower Corp (NYSE:AMT) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,336 shares of the real estate investment trust’s stock after selling 535 shares during the quarter. IBM Retirement Fund’s holdings in American Tower were worth $1,160,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in shares of American Tower by 8.9% during the 3rd quarter. Bessemer Group Inc. now owns 5,772 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 470 shares in the last quarter. MML Investors Services LLC raised its stake in shares of American Tower by 64.9% in the 3rd quarter. MML Investors Services LLC now owns 12,606 shares of the real estate investment trust’s stock valued at $1,832,000 after acquiring an additional 4,962 shares in the last quarter. Yorktown Management & Research Co Inc bought a new position in shares of American Tower in the 3rd quarter valued at approximately $291,000. Keybank National Association OH raised its stake in shares of American Tower by 2.9% in the 3rd quarter. Keybank National Association OH now owns 192,836 shares of the real estate investment trust’s stock valued at $28,019,000 after acquiring an additional 5,372 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its stake in shares of American Tower by 3.8% in the 3rd quarter. Royal London Asset Management Ltd. now owns 195,469 shares of the real estate investment trust’s stock valued at $28,403,000 after acquiring an additional 7,166 shares in the last quarter. Hedge funds and other institutional investors own 94.11% of the company’s stock.
A number of research analysts recently weighed in on the company. KeyCorp raised their price objective on American Tower from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, February 12th. Moffett Nathanson downgraded American Tower from a “buy” rating to a “neutral” rating and set a $164.00 price objective on the stock. in a research note on Monday, December 3rd. Edward Jones downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday. Macquarie reissued a “buy” rating and issued a $210.00 price objective on shares of American Tower in a research note on Thursday, February 28th. Finally, CIBC reissued a “market perform” rating on shares of American Tower in a research note on Thursday, February 28th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $174.63.
AMT opened at $188.97 on Friday. The company has a market capitalization of $83.36 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 1.76 and a beta of 0.67. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 3.12. American Tower Corp has a 12-month low of $133.53 and a 12-month high of $189.00.
American Tower (NYSE:AMT) last released its earnings results on Wednesday, February 27th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.25 by ($1.63). The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.03 billion. American Tower had a net margin of 16.62% and a return on equity of 19.86%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period last year, the business earned $0.51 EPS. Research analysts expect that American Tower Corp will post 7.53 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Thursday, April 11th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Wednesday, April 10th. This represents a $3.60 dividend on an annualized basis and a yield of 1.91%. This is a positive change from American Tower’s previous quarterly dividend of $0.84.
In other American Tower news, Director Joann A. Reed sold 1,538 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $175.61, for a total value of $270,088.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William H. Hess sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $186.97, for a total value of $3,739,400.00. Following the completion of the sale, the executive vice president now directly owns 92,231 shares in the company, valued at approximately $17,244,430.07. The disclosure for this sale can be found here. Insiders sold a total of 88,084 shares of company stock worth $14,996,082 in the last ninety days. Insiders own 0.87% of the company’s stock.
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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 over 170,000 communications sites.
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