Rothschild Investment LLC Sells 17,326 Shares of American Tower Corporation $AMT

Rothschild Investment LLC lowered its stake in American Tower Corporation (NYSE:AMT) by 78.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,895 shares of the real estate investment trust’s stock after selling 17,326 shares during the period. Rothschild Investment LLC’s holdings in American Tower were worth $941,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. Mirae Asset Global Investments Co. Ltd. grew its holdings in American Tower by 8.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,793 shares of the real estate investment trust’s stock worth $18,615,000 after acquiring an additional 7,872 shares in the last quarter. Eastern Bank boosted its stake in shares of American Tower by 69.6% during the third quarter. Eastern Bank now owns 139,091 shares of the real estate investment trust’s stock valued at $26,750,000 after purchasing an additional 57,078 shares in the last quarter. Machina Capital S.A.S. purchased a new position in American Tower during the third quarter valued at approximately $2,871,000. Commerzbank Aktiengesellschaft FI raised its stake in American Tower by 92.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 61,397 shares of the real estate investment trust’s stock worth $11,808,000 after buying an additional 29,486 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in American Tower by 52.5% during the second quarter. Los Angeles Capital Management LLC now owns 321,661 shares of the real estate investment trust’s stock worth $71,094,000 after buying an additional 110,671 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

American Tower Stock Up 0.4%

AMT stock opened at $192.89 on Wednesday. The stock has a market capitalization of $90.30 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a 50 day moving average of $177.70 and a 200 day moving average of $186.56.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AMT shares. Barclays reissued an “equal weight” rating and issued a $200.00 price target (down from $203.00) on shares of American Tower in a research report on Monday, December 1st. The Goldman Sachs Group reduced their target price on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Royal Bank Of Canada cut their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating on the stock in a research report on Monday, January 12th. Finally, New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 target price for the company in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $218.79.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.