American Tower Corp (AMT) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its stake in American Tower Corp (NYSE:AMT) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,100 shares of the real estate investment trust’s stock after selling 6,200 shares during the period. Forsta AP Fonden’s holdings in American Tower were worth $15,729,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wallington Asset Management LLC boosted its holdings in shares of American Tower by 0.4% during the second quarter. Wallington Asset Management LLC now owns 82,040 shares of the real estate investment trust’s stock valued at $11,828,000 after acquiring an additional 340 shares during the period. Peregrine Capital Management LLC boosted its holdings in shares of American Tower by 0.3% during the second quarter. Peregrine Capital Management LLC now owns 110,820 shares of the real estate investment trust’s stock valued at $15,977,000 after acquiring an additional 351 shares during the period. Warren Averett Asset Management LLC boosted its holdings in shares of American Tower by 9.0% during the second quarter. Warren Averett Asset Management LLC now owns 4,498 shares of the real estate investment trust’s stock valued at $648,000 after acquiring an additional 370 shares during the period. Creative Planning lifted its holdings in American Tower by 1.2% in the second quarter. Creative Planning now owns 30,790 shares of the real estate investment trust’s stock worth $4,439,000 after purchasing an additional 375 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in American Tower by 0.4% in the second quarter. Mutual of America Capital Management LLC now owns 91,994 shares of the real estate investment trust’s stock worth $13,263,000 after purchasing an additional 390 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Several equities research analysts recently weighed in on AMT shares. Morgan Stanley upped their price objective on shares of American Tower from $154.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 16th. Guggenheim downgraded shares of American Tower from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a report on Monday, July 16th. Oppenheimer upped their price objective on shares of American Tower from $167.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Deutsche Bank upped their price objective on shares of American Tower from $155.00 to $169.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, SunTrust Banks reiterated a “buy” rating and issued a $167.00 price target on shares of American Tower in a research report on Friday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. American Tower currently has a consensus rating of “Buy” and an average price target of $162.14.

NYSE AMT traded up $0.31 on Friday, hitting $144.75. 1,625,938 shares of the company were exchanged, compared to its average volume of 2,185,950. The company has a market cap of $64.05 billion, a PE ratio of 22.69, a PEG ratio of 1.55 and a beta of 0.80. American Tower Corp has a twelve month low of $130.37 and a twelve month high of $155.28. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.99.

American Tower (NYSE:AMT) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.04). The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.75 billion. American Tower had a net margin of 16.34% and a return on equity of 16.72%. American Tower’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 EPS. Research analysts forecast that American Tower Corp will post 7.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th will be issued a $0.79 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.18%. American Tower’s dividend payout ratio is currently 49.53%.

In related news, Chairman James D. Taiclet, Jr. sold 43,843 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $142.66, for a total value of $6,254,642.38. Following the completion of the sale, the chairman now owns 223,227 shares of the company’s stock, valued at approximately $31,845,563.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 43,808 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $150.65, for a total value of $6,599,675.20. The disclosure for this sale can be found here. Insiders sold a total of 124,124 shares of company stock worth $18,269,268 in the last quarter. 0.87% of the stock is owned by corporate insiders.

American Tower Company 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 approximately 170,000 communications sites.

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

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