American Tower Co. (NYSE:AMT) Stake Cut by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 62.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,406 shares of the real estate investment trust’s stock after selling 109,740 shares during the period. Public Employees Retirement Association of Colorado’s holdings in American Tower were worth $13,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the 1st quarter valued at about $25,000. Gold Investment Management Ltd. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $28,000. Private Wealth Management Group LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $31,000. SOA Wealth Advisors LLC. acquired a new position in American Tower during the 1st quarter valued at approximately $30,000. Finally, Rational Advisors LLC bought a new position in American Tower during the 1st quarter worth $35,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AMT shares. Wells Fargo & Company boosted their price target on shares of American Tower from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Monday, July 15th. BMO Capital Markets decreased their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Scotiabank cut their price target on American Tower from $243.00 to $223.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Mizuho assumed coverage on American Tower in a research note on Monday, April 8th. They set a “neutral” rating and a $205.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.92.

Insider Activity

In other news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.6 %

AMT opened at $215.04 on Tuesday. The firm’s 50-day simple moving average is $198.05 and its 200-day simple moving average is $193.59. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The firm has a market cap of $100.42 billion, a price-to-earnings ratio of 48.65, a PEG ratio of 1.50 and a beta of 0.81. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.85 and a current ratio of 0.85.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the firm posted $2.54 EPS. American Tower’s revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that American Tower Co. will post 10.04 EPS for the current fiscal year.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 annualized dividend and a dividend yield of 3.01%. American Tower’s dividend payout ratio is presently 146.61%.

American Tower 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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.