American Tower Co. (REIT) (NYSE:AMT) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its holdings in American Tower Co. (REIT) (NYSE:AMT) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,349 shares of the real estate investment trust’s stock after selling 59 shares during the period. Pitcairn Co.’s holdings in American Tower were worth $1,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in American Tower by 2.1% in the second quarter. Vanguard Group Inc. now owns 57,918,458 shares of the real estate investment trust’s stock valued at $15,646,092,000 after acquiring an additional 1,177,194 shares during the last quarter. BlackRock Inc. lifted its holdings in American Tower by 0.5% in the third quarter. BlackRock Inc. now owns 34,334,510 shares of the real estate investment trust’s stock valued at $9,112,721,000 after acquiring an additional 157,675 shares during the last quarter. State Street Corp lifted its holdings in American Tower by 5.0% in the second quarter. State Street Corp now owns 18,105,368 shares of the real estate investment trust’s stock valued at $4,913,452,000 after acquiring an additional 867,164 shares during the last quarter. Geode Capital Management LLC lifted its holdings in American Tower by 4.0% in the second quarter. Geode Capital Management LLC now owns 8,358,961 shares of the real estate investment trust’s stock valued at $2,252,739,000 after acquiring an additional 320,233 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in American Tower by 1.5% in the second quarter. Northern Trust Corp now owns 6,875,915 shares of the real estate investment trust’s stock valued at $1,857,459,000 after acquiring an additional 100,395 shares during the last quarter. Hedge funds and other institutional investors own 89.37% of the company’s stock.

NYSE AMT opened at $255.44 on Friday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.30 and a quick ratio of 1.30. American Tower Co. has a 1 year low of $197.50 and a 1 year high of $303.72. The company has a market capitalization of $116.33 billion, a PE ratio of 46.44, a P/E/G ratio of 1.94 and a beta of 0.37. The company has a fifty day moving average of $271.67 and a two-hundred day moving average of $278.31.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Monday, December 27th will be given a $1.39 dividend. The ex-dividend date is Thursday, December 23rd. This represents a $5.56 dividend on an annualized basis and a yield of 2.18%. This is an increase from American Tower’s previous quarterly dividend of $1.31. American Tower’s dividend payout ratio (DPR) is presently 101.09%.

A number of analysts have issued reports on AMT shares. Wells Fargo & Company cut their target price on American Tower from $305.00 to $285.00 and set an “overweight” rating on the stock in a research report on Friday, November 19th. KeyCorp boosted their target price on American Tower from $302.00 to $311.00 and gave the company an “overweight” rating in a research report on Friday, October 29th. Raymond James cut their target price on American Tower from $296.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, November 1st. The Goldman Sachs Group lowered American Tower from a “buy” rating to a “neutral” rating and cut their target price for the company from $298.00 to $281.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered American Tower from a “neutral” rating to an “underweight” rating and cut their target price for the company from $285.00 to $271.00 in a research report on Wednesday, January 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $293.63.

In related news, Director Pamela D. A. Reeve sold 3,590 shares of the stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Joann A. Reed sold 866 shares of American Tower stock in a transaction dated 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. 0.68% of the stock is owned by company insiders.

American Tower 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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