American Tower Corp (AMT) Stake Lowered by IBM Retirement Fund

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.

ILLEGAL ACTIVITY WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2019/03/17/american-tower-corp-amt-stake-lowered-by-ibm-retirement-fund.html.

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.

Read More: Average Daily Trade Volume – What You Need to Know

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply