Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in American Tower Co. (NYSE:AMT)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in American Tower Co. (NYSE:AMTGet Rating) by 90.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,542 shares of the real estate investment trust’s stock after selling 64,773 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in American Tower were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in AMT. Cohen & Steers Inc. boosted its position in American Tower by 27.5% in the 1st quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock valued at $4,944,107,000 after buying an additional 4,239,151 shares during the period. Jennison Associates LLC boosted its position in American Tower by 180.2% in the 2nd quarter. Jennison Associates LLC now owns 4,254,374 shares of the real estate investment trust’s stock valued at $1,087,375,000 after buying an additional 2,736,149 shares during the period. State Street Corp boosted its position in American Tower by 7.9% in the 1st quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock valued at $5,339,235,000 after buying an additional 1,550,683 shares during the period. Vanguard Group Inc. lifted its position in shares of American Tower by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 59,982,344 shares of the real estate investment trust’s stock worth $15,068,764,000 after purchasing an additional 824,408 shares during the period. Finally, Alphinity Investment Management Pty Ltd lifted its position in shares of American Tower by 1,896.4% in the 2nd quarter. Alphinity Investment Management Pty Ltd now owns 821,915 shares of the real estate investment trust’s stock worth $210,073,000 after purchasing an additional 780,746 shares during the period. 91.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMT. StockNews.com began coverage on shares of American Tower in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays upped their price target on shares of American Tower from $232.00 to $247.00 and gave the stock an “overweight” rating in a research report on Monday, November 14th. TheStreet cut shares of American Tower from a “b” rating to a “c+” rating in a research report on Thursday, October 13th. Morgan Stanley lowered their price target on shares of American Tower from $257.00 to $209.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 18th. Finally, Wells Fargo & Company decreased their target price on shares of American Tower from $235.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.40.

Insider Buying and Selling at American Tower

In other American Tower news, Director Joann A. Reed sold 1,231 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $204.88, for a total transaction of $252,207.28. Following the transaction, the director now owns 54,554 shares in the company, valued at approximately $11,177,023.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Edmund Disanto sold 35,000 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $207.20, for a total value of $7,252,000.00. Following the sale, the executive vice president now owns 157,685 shares in the company, valued at $32,672,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joann A. Reed sold 1,231 shares of the stock in a transaction on Friday, October 28th. The stock was sold at an average price of $204.88, for a total transaction of $252,207.28. Following the completion of the sale, the director now owns 54,554 shares in the company, valued at approximately $11,177,023.52. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by company insiders.

American Tower Trading Up 0.1 %

Shares of American Tower stock opened at $218.25 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.87. American Tower Co. has a 12-month low of $178.17 and a 12-month high of $294.40. The firm has a market capitalization of $101.62 billion, a price-to-earnings ratio of 34.64, a PEG ratio of 2.10 and a beta of 0.53. The firm’s 50 day simple moving average is $210.14 and its two-hundred day simple moving average is $240.28.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were paid a dividend of $1.47 per share. This is a positive change from American Tower’s previous quarterly dividend of $1.43. The ex-dividend date of this dividend was Friday, October 7th. This represents a $5.88 dividend on an annualized basis and a yield of 2.69%. American Tower’s dividend payout ratio is presently 93.33%.

American Tower Company Profile

(Get Rating)

American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

Further Reading

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTGet Rating).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.