Border to Coast Pensions Partnership Ltd Has $74.62 Million Holdings in American Tower Co. (NYSE:AMT)

Border to Coast Pensions Partnership Ltd lowered its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 321,795 shares of the real estate investment trust's stock after selling 44,804 shares during the period. American Tower accounts for 1.5% of Border to Coast Pensions Partnership Ltd's portfolio, making the stock its 15th biggest holding. Border to Coast Pensions Partnership Ltd owned about 0.07% of American Tower worth $74,618,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in shares of American Tower by 41.8% during the second quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust's stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares during the period. Vanguard Group Inc. raised its position in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust's stock worth $12,248,812,000 after buying an additional 965,938 shares in the last quarter. M&G Plc bought a new position in shares of American Tower in the first quarter valued at approximately $164,300,000. Swedbank AB acquired a new position in shares of American Tower during the first quarter valued at approximately $123,861,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of American Tower by 16.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,310,893 shares of the real estate investment trust's stock valued at $643,571,000 after acquiring an additional 464,429 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other American Tower news, CEO Steven O. Vondran sold 21,537 shares of the business's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $230.00, for a total value of $4,953,510.00. Following the sale, the chief executive officer now owns 61,843 shares of the company's stock, valued at $14,223,890. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Steven O. Vondran sold 21,537 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $230.00, for a total value of $4,953,510.00. Following the completion of the transaction, the chief executive officer now directly owns 61,843 shares of the company's stock, valued at approximately $14,223,890. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Olivier Puech sold 10,005 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total value of $2,333,866.35. Following the transaction, the executive vice president now owns 51,746 shares of the company's stock, valued at $12,070,789.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,723 shares of company stock worth $7,795,397. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMT. Deutsche Bank Aktiengesellschaft upped their price objective on American Tower from $212.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. StockNews.com raised shares of American Tower from a "hold" rating to a "buy" rating in a research note on Wednesday, July 31st. TD Cowen boosted their target price on shares of American Tower from $226.00 to $239.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, September 23rd. Finally, Barclays upped their price target on American Tower from $223.00 to $255.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $237.92.

American Tower Stock Performance

NYSE:AMT traded down $4.81 during mid-day trading on Monday, hitting $221.49. 1,295,708 shares of the company's stock traded hands, compared to its average volume of 2,275,494. The firm has a market capitalization of $103.45 billion, a price-to-earnings ratio of 41.49, a price-to-earnings-growth ratio of 1.03 and a beta of 0.83. The firm has a 50 day moving average of $228.62 and a two-hundred day moving average of $206.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.42. American Tower Co. has a 12 month low of $157.25 and a 12 month high of $243.56.

American Tower (NYSE:AMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a net margin of 21.95% and a return on equity of 23.06%. The firm's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 earnings per share. On average, equities analysts forecast that American Tower Co. will post 10.12 earnings per share for the current fiscal year.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Wednesday, October 9th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Wednesday, October 9th. American Tower's dividend payout ratio is currently 121.80%.

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.