Intech Investment Management LLC Trims Stake in American Tower Co. (NYSE:AMT)

Intech Investment Management LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 75.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,961 shares of the real estate investment trust’s stock after selling 39,048 shares during the quarter. Intech Investment Management LLC’s holdings in American Tower were worth $2,514,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lokken Investment Group LLC increased its position in shares of American Tower by 20.0% in the second quarter. Lokken Investment Group LLC now owns 3,623 shares of the real estate investment trust’s stock valued at $703,000 after buying an additional 603 shares in the last quarter. Lido Advisors LLC increased its position in shares of American Tower by 119.5% in the second quarter. Lido Advisors LLC now owns 102,747 shares of the real estate investment trust’s stock valued at $19,927,000 after buying an additional 55,939 shares in the last quarter. Banque Cantonale Vaudoise increased its position in shares of American Tower by 10.8% in the second quarter. Banque Cantonale Vaudoise now owns 17,498 shares of the real estate investment trust’s stock valued at $3,393,000 after buying an additional 1,700 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of American Tower by 10.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 729,562 shares of the real estate investment trust’s stock valued at $141,491,000 after buying an additional 66,202 shares in the last quarter. Finally, Coastal Investment Advisors Inc. increased its position in shares of American Tower by 9.4% in the second quarter. Coastal Investment Advisors Inc. now owns 3,215 shares of the real estate investment trust’s stock valued at $623,000 after buying an additional 277 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Up 0.9 %

Shares of NYSE AMT opened at $195.88 on Thursday. The stock has a market cap of $91.31 billion, a PE ratio of 128.03, a price-to-earnings-growth ratio of 1.57 and a beta of 0.63. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 3.15. American Tower Co. has a 52-week low of $154.58 and a 52-week high of $235.57. The business has a 50-day moving average price of $172.17 and a 200 day moving average price of $182.71.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Wednesday, October 11th were given a $1.62 dividend. The ex-dividend date was Tuesday, October 10th. This is a boost from American Tower’s previous quarterly dividend of $1.57. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.31%. American Tower’s dividend payout ratio is 423.53%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AMT. Citigroup cut their price objective on American Tower from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Scotiabank began coverage on American Tower in a research note on Friday, October 13th. They issued a “sector outperform” rating and a $208.00 price target on the stock. Wells Fargo & Company lowered their price target on American Tower from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. StockNews.com began coverage on American Tower in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Raymond James lowered their price target on American Tower from $211.00 to $205.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.60.

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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.