CX Institutional Sells 257 Shares of American Tower Co. (NYSE:AMT)

CX Institutional decreased its holdings in American Tower Co. (NYSE:AMT) by 13.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,676 shares of the real estate investment trust’s stock after selling 257 shares during the period. CX Institutional’s holdings in American Tower were worth $307,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the last quarter. FMR LLC increased its position in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in American Tower by 4.9% in the 3rd 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 last quarter. Finally, Franklin Resources Inc. boosted its position in American Tower by 0.9% in the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after buying an additional 38,436 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $185.17 on Monday. The company has a market capitalization of $86.53 billion, a PE ratio of 78.13, a P/E/G ratio of 1.24 and a beta of 0.84. 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 firm has a fifty day simple moving average of $192.08 and a 200 day simple moving average of $211.14.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the business posted $2.58 earnings per share. The business’s revenue was down 10.5% on a year-over-year basis. On average, sell-side analysts forecast that American Tower Co. will post 10.15 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was 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 directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AMT has been the subject of a number of research reports. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank dropped their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday. Barclays dropped their price objective on shares of American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.42.

About American Tower

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.