Skandinaviska Enskilda Banken AB publ Sells 29,742 Shares of American Tower Co. (REIT) (NYSE:AMT)

Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of American Tower Co. (REIT) (NYSE:AMT) by 24.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,015 shares of the real estate investment trust’s stock after selling 29,742 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in American Tower were worth $24,156,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMT. Teacher Retirement System of Texas grew its position in shares of American Tower by 7.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 127,301 shares of the real estate investment trust’s stock valued at $33,787,000 after buying an additional 8,408 shares during the last quarter. Sawtooth Solutions LLC grew its holdings in shares of American Tower by 11.6% in the third quarter. Sawtooth Solutions LLC now owns 2,882 shares of the real estate investment trust’s stock valued at $765,000 after acquiring an additional 299 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of American Tower by 9.8% in the third quarter. Lord Abbett & CO. LLC now owns 211,000 shares of the real estate investment trust’s stock valued at $56,002,000 after acquiring an additional 18,900 shares in the last quarter. GSI Capital Advisors LLC grew its holdings in American Tower by 42.0% during the third quarter. GSI Capital Advisors LLC now owns 25,232 shares of the real estate investment trust’s stock valued at $3,551,000 after purchasing an additional 7,462 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of American Tower by 1.0% in the third quarter. Geneos Wealth Management Inc. now owns 3,671 shares of the real estate investment trust’s stock worth $978,000 after acquiring an additional 36 shares during the period. Institutional investors own 89.37% of the company’s stock.

NYSE AMT opened at $259.39 on Thursday. American Tower Co. has a one year low of $197.50 and a one year high of $303.72. The company’s 50 day moving average price is $272.14 and its 200 day moving average price is $278.47. The company has a debt-to-equity ratio of 3.32, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $118.13 billion, a price-to-earnings ratio of 47.16, a PEG ratio of 1.95 and a beta of 0.37.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, October 27th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.69). The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.41 billion. American Tower had a net margin of 27.44% and a return on equity of 39.34%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 EPS. Sell-side analysts forecast that American Tower Co. will post 9.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Monday, December 27th will be paid a dividend of $1.39 per share. The ex-dividend date is Thursday, December 23rd. This represents a $5.56 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from American Tower’s previous quarterly dividend of $1.31. American Tower’s dividend payout ratio (DPR) is currently 101.09%.

In related news, Director Pamela D. A. Reeve sold 3,590 shares of American Tower stock in a transaction on Thursday, December 9th. The shares were sold at an average price of $273.02, for a total value of $980,141.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joann A. Reed sold 866 shares of American Tower stock in a transaction on Tuesday, November 16th. The stock was sold at an average price of $260.50, for a total transaction of $225,593.00. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.

A number of research firms have weighed in on AMT. JPMorgan Chase & Co. cut shares of American Tower from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $285.00 to $271.00 in a report on Wednesday, January 5th. Credit Suisse Group increased their price target on shares of American Tower from $324.00 to $328.00 and gave the stock an “outperform” rating in a research note on Friday, October 29th. Morgan Stanley decreased their price target on shares of American Tower from $316.00 to $294.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 1st. KeyCorp increased their price target on shares of American Tower from $302.00 to $311.00 and gave the stock an “overweight” rating in a research note on Friday, October 29th. Finally, Raymond James decreased their price target on shares of American Tower from $296.00 to $294.00 and set an “outperform” rating for the company in a research note on Monday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $293.63.

American Tower Company Profile

American Tower Corp. provides real estate investment services, and owns, operates, and develops multitenant communications real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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

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