Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Position in American Tower Co. (REIT) (NYSE:AMT)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in American Tower Co. (REIT) (NYSE:AMT) by 23.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 329,268 shares of the real estate investment trust’s stock after buying an additional 62,946 shares during the period. American Tower comprises approximately 1.0% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 9th biggest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.07% of American Tower worth $87,391,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in shares of American Tower by 11.5% during the second quarter. Van ECK Associates Corp now owns 65,876 shares of the real estate investment trust’s stock worth $17,796,000 after purchasing an additional 6,792 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of American Tower by 4.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 42,379 shares of the real estate investment trust’s stock worth $11,448,000 after purchasing an additional 1,895 shares during the period. Brighton Jones LLC increased its stake in shares of American Tower by 2.8% during the second quarter. Brighton Jones LLC now owns 5,455 shares of the real estate investment trust’s stock worth $1,474,000 after purchasing an additional 151 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of American Tower by 2.2% during the second quarter. Dynamic Advisor Solutions LLC now owns 6,649 shares of the real estate investment trust’s stock worth $1,796,000 after purchasing an additional 144 shares during the period. Finally, Financial Architects Inc increased its stake in shares of American Tower by 53.1% during the second quarter. Financial Architects Inc now owns 1,830 shares of the real estate investment trust’s stock worth $494,000 after purchasing an additional 635 shares during the period. Hedge funds and other institutional investors own 89.37% of the company’s stock.

In other news, Director Pamela D. A. Reeve sold 3,590 shares of American Tower stock in a transaction dated Thursday, December 9th. The stock was sold at an average price of $273.02, for a total value of $980,141.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value 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 brokerages have recently weighed in on AMT. The Goldman Sachs Group lowered American Tower from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $298.00 to $281.00 in a research note on Tuesday. Credit Suisse Group raised their price objective on American Tower from $324.00 to $328.00 and gave the stock an “outperform” rating in a research note on Friday, October 29th. KeyCorp raised their price objective on American Tower from $302.00 to $311.00 and gave the stock an “overweight” rating in a research note on Friday, October 29th. Wells Fargo & Company lowered their price objective on American Tower from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, November 19th. Finally, Morgan Stanley lowered their price objective on American Tower from $316.00 to $294.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, American Tower currently has an average rating of “Buy” and an average target price of $293.63.

AMT traded down $7.96 during midday trading on Friday, hitting $247.48. 43,235 shares of the company were exchanged, compared to its average volume of 1,738,490. The firm has a market capitalization of $112.70 billion, a P/E ratio of 46.44, a P/E/G ratio of 1.94 and a beta of 0.37. American Tower Co. has a 1-year low of $197.50 and a 1-year high of $303.72. The firm’s 50 day moving average price is $271.67 and its 200-day moving average price is $278.31. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 3.32.

American Tower (NYSE:AMT) last announced its earnings results on Wednesday, October 27th. The real estate investment trust reported $1.58 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the firm posted $2.23 earnings per share. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, sell-side analysts predict that American Tower Co. will post 9.18 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Stockholders of record on Monday, December 27th will be given a $1.39 dividend. The ex-dividend date is Thursday, December 23rd. This is a positive change from American Tower’s previous quarterly dividend of $1.31. This represents a $5.56 annualized dividend and a dividend yield of 2.25%. American Tower’s dividend payout ratio (DPR) is 101.09%.

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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