American Tower Co. (NYSE:AMT) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its holdings in American Tower Co. (NYSE:AMTFree Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 347,097 shares of the real estate investment trust’s stock after selling 99,734 shares during the period. First Trust Advisors LP owned about 0.07% of American Tower worth $74,931,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Belpointe Asset Management LLC increased its position in shares of American Tower by 21.9% in the fourth quarter. Belpointe Asset Management LLC now owns 7,971 shares of the real estate investment trust’s stock worth $1,721,000 after acquiring an additional 1,432 shares in the last quarter. Cornerstone Advisory LLC increased its position in shares of American Tower by 7.5% in the fourth quarter. Cornerstone Advisory LLC now owns 3,949 shares of the real estate investment trust’s stock worth $853,000 after acquiring an additional 276 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of American Tower by 20.1% in the fourth quarter. Rafferty Asset Management LLC now owns 62,531 shares of the real estate investment trust’s stock worth $13,499,000 after acquiring an additional 10,449 shares in the last quarter. NEOS Investment Management LLC increased its position in shares of American Tower by 47.3% in the fourth quarter. NEOS Investment Management LLC now owns 6,599 shares of the real estate investment trust’s stock worth $1,425,000 after acquiring an additional 2,118 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its holdings in shares of American Tower by 3.9% during the fourth quarter. CWA Asset Management Group LLC now owns 23,366 shares of the real estate investment trust’s stock worth $5,044,000 after purchasing an additional 873 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Up 0.7 %

Shares of AMT stock opened at $199.49 on Friday. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The firm’s fifty day simple moving average is $184.88 and its 200 day simple moving average is $196.30. The firm has a market capitalization of $93.16 billion, a P/E ratio of 45.13, a price-to-earnings-growth ratio of 1.42 and a beta of 0.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 3.39.

American Tower (NYSE:AMTGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $2.54 EPS. As a group, sell-side analysts predict that American Tower Co. will post 9.98 EPS for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s payout ratio is 146.61%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley raised their price target on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Barclays reduced their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Mizuho started coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price for the company. Finally, Scotiabank reduced their price objective on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.91.

Check Out Our Latest Report on American Tower

Insider Transactions at American Tower

In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the sale, the executive vice president now owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares in the company, valued at approximately $5,692,828.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert D. Hormats sold 700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the transaction, the director now owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

About American Tower

(Free Report)

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.

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

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