American Tower Co. (NYSE:AMT) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. trimmed its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 24.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,599 shares of the real estate investment trust’s stock after selling 108,886 shares during the quarter. Balyasny Asset Management L.P. owned about 0.07% of American Tower worth $72,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of American Tower by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock valued at $10,020,034,000 after purchasing an additional 196,942 shares during the period. Wellington Management Group LLP boosted its stake in shares of American Tower by 5.6% during the 3rd quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after acquiring an additional 691,934 shares in the last quarter. Morgan Stanley lifted its stake in shares of American Tower by 3.7% in the third quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock worth $1,195,545,000 after buying an additional 258,030 shares during the last quarter. Akre Capital Management LLC boosted its holdings in American Tower by 0.5% during the fourth quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock valued at $1,468,977,000 after acquiring an additional 36,375 shares during the period. Finally, FMR LLC grew its holdings in American Tower by 2.1% in the 3rd quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock valued at $1,090,046,000 after buying an additional 138,303 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of several research reports. Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $226.00 to $248.00 in a report on Wednesday, May 1st. BMO Capital Markets decreased their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Morgan Stanley raised their price target on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $220.91.

Read Our Latest Report on American Tower

American Tower Stock Performance

AMT opened at $194.80 on Tuesday. The business’s 50-day simple moving average is $184.85 and its 200 day simple moving average is $196.21. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $219.10. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $90.97 billion, a PE ratio of 44.07, a PEG ratio of 1.39 and a beta of 0.79.

American Tower (NYSE:AMTGet Free Report) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The firm had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.54 earnings per share. As a group, sell-side analysts expect that American Tower Co. will post 9.98 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Insider Activity at American Tower

In other news, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

About American Tower

(Free Report)

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.

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

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