American Tower Corp (AMT) Shares Sold by Montag & Caldwell LLC

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Montag & Caldwell LLC lessened its position in American Tower Corp (NYSE:AMT) by 17.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,184 shares of the real estate investment trust’s stock after selling 46,443 shares during the quarter. American Tower makes up 1.9% of Montag & Caldwell LLC’s investment portfolio, making the stock its 28th largest holding. Montag & Caldwell LLC owned approximately 0.05% of American Tower worth $35,622,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc grew its stake in American Tower by 6.7% during the 3rd quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after purchasing an additional 3,579,249 shares in the last quarter. Vanguard Group Inc. grew its stake in American Tower by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 56,635,438 shares of the real estate investment trust’s stock worth $8,229,130,000 after purchasing an additional 3,579,249 shares in the last quarter. Edgewood Management LLC grew its stake in American Tower by 16.7% during the 3rd quarter. Edgewood Management LLC now owns 7,967,144 shares of the real estate investment trust’s stock worth $1,157,626,000 after purchasing an additional 1,139,504 shares in the last quarter. Resolution Capital Ltd grew its stake in American Tower by 291.1% during the 3rd quarter. Resolution Capital Ltd now owns 1,522,702 shares of the real estate investment trust’s stock worth $187,429,000 after purchasing an additional 1,133,323 shares in the last quarter. Finally, FMR LLC grew its stake in American Tower by 6.7% during the 3rd quarter. FMR LLC now owns 15,195,387 shares of the real estate investment trust’s stock worth $2,207,889,000 after purchasing an additional 951,620 shares in the last quarter. Hedge funds and other institutional investors own 93.11% of the company’s stock.

Several research analysts recently commented on the company. Morgan Stanley cut American Tower from an “overweight” rating to an “equal weight” rating and set a $170.00 target price for the company. in a research note on Wednesday, December 12th. Wells Fargo & Co upped their price objective on American Tower from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Friday, November 16th. Moffett Nathanson cut American Tower from a “buy” rating to a “neutral” rating and set a $164.00 price objective for the company. in a research report on Monday, December 3rd. Citigroup cut American Tower from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $161.00 to $176.00 in a research report on Wednesday, October 31st. Finally, KeyCorp upped their price objective on American Tower from $165.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 31st. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $166.33.

Shares of NYSE AMT opened at $170.27 on Thursday. The stock has a market capitalization of $75.00 billion, a P/E ratio of 26.69, a PEG ratio of 1.59 and a beta of 0.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a 52-week low of $130.37 and a 52-week high of $173.95.

The company also recently announced a quarterly dividend, which was paid on Monday, January 14th. Investors of record on Thursday, December 27th were given a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, December 26th. This is a boost from American Tower’s previous quarterly dividend of $0.79. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.97%. American Tower’s dividend payout ratio is 52.66%.

In related news, CFO Thomas A. Bartlett sold 93,338 shares of the company’s stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $165.00, for a total value of $15,400,770.00. Following the completion of the sale, the chief financial officer now directly owns 133,660 shares of the company’s stock, valued at approximately $22,053,900. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David E. Sharbutt sold 813 shares of the company’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $160.88, for a total value of $130,795.44. Following the completion of the sale, the director now directly owns 3,968 shares of the company’s stock, valued at $638,371.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 212,654 shares of company stock valued at $35,077,266. Insiders own 0.87% of the company’s stock.

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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 over 170,000 communications sites.

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

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