American Tower Co. (NYSE:AMT) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 14.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,181 shares of the real estate investment trust's stock after selling 16,921 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in American Tower were worth $24,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. State Street Corp boosted its position in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. Geode Capital Management LLC raised its stake in American Tower by 1.9% during the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust's stock worth $2,599,074,000 after acquiring an additional 204,426 shares during the period. FMR LLC raised its stake in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Ameriprise Financial Inc. increased its stake in shares of American Tower by 41.8% in 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. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of American Tower by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust's stock valued at $1,211,397,000 after purchasing an additional 243,061 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research reports. Scotiabank reduced their target price on shares of American Tower from $248.00 to $236.00 and set a "sector outperform" rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company lowered shares of American Tower from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Tower from $212.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Royal Bank of Canada upped their price target on shares of American Tower from $225.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 15th. Finally, Barclays reduced their target price on shares of American Tower from $255.00 to $251.00 and set an "overweight" rating for the company in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.54.

American Tower Stock Performance

AMT traded up $0.06 during trading on Wednesday, hitting $199.59. The company's stock had a trading volume of 2,278,049 shares, compared to its average volume of 2,325,163. 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 one year low of $170.46 and a one year high of $243.56. The firm has a market cap of $93.27 billion, a PE ratio of 84.31, a P/E/G ratio of 1.38 and a beta of 0.83. The business's 50 day simple moving average is $212.20 and its 200-day simple moving average is $213.37.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.77 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. American Tower's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts predict that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.25%. American Tower's dividend payout ratio (DPR) is presently 273.42%.

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.