AustralianSuper Pty Ltd trimmed its stake in American Tower Co. (NYSE:AMT - Free Report) by 98.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,747 shares of the real estate investment trust's stock after selling 1,001,850 shares during the period. AustralianSuper Pty Ltd's holdings in American Tower were worth $2,338,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Balentine LLC purchased a new position in shares of American Tower in the 3rd quarter valued at $586,000. Nordea Investment Management AB grew its position in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in American Tower during the 3rd quarter worth $1,156,000. Brookstone Capital Management grew its position in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after purchasing an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management grew its position in American Tower by 5.5% during the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after purchasing an additional 22,523 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Price Performance
Shares of NYSE AMT traded down $1.00 during midday trading on Wednesday, hitting $188.55. The company had a trading volume of 2,454,349 shares, compared to its average volume of 2,122,520. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The business has a 50-day simple moving average of $186.11 and a two-hundred day simple moving average of $208.12. The firm has a market capitalization of $88.11 billion, a price-to-earnings ratio of 79.56, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.
American Tower Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, December 27th. American Tower's dividend payout ratio (DPR) is 273.42%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on AMT shares. Wells Fargo & Company lowered their price objective on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Mizuho lowered their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Scotiabank lowered their target price on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a report on Thursday, January 23rd. Finally, Citigroup lowered their target price on shares of American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.79.
Read Our Latest Research Report on AMT
Insider Activity at American Tower
In related news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.18% of the company's stock.
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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