Healthcare of Ontario Pension Plan Trust Fund Lowers Position in American Tower Co. (NYSE:AMT)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in American Tower Co. (NYSE:AMTGet Rating) by 90.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,542 shares of the real estate investment trust’s stock after selling 64,773 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in American Tower were worth $1,672,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMT. Cohen & Steers Inc. lifted its holdings in American Tower by 27.5% in the first quarter. Cohen & Steers Inc. now owns 19,680,735 shares of the real estate investment trust’s stock worth $4,944,107,000 after buying an additional 4,239,151 shares during the period. Jennison Associates LLC lifted its holdings in American Tower by 180.2% in the second quarter. Jennison Associates LLC now owns 4,254,374 shares of the real estate investment trust’s stock worth $1,087,375,000 after buying an additional 2,736,149 shares during the period. State Street Corp lifted its holdings in American Tower by 7.9% in the first quarter. State Street Corp now owns 21,253,223 shares of the real estate investment trust’s stock worth $5,339,235,000 after buying an additional 1,550,683 shares during the period. Vanguard Group Inc. increased its stake in shares of American Tower by 1.4% during the first quarter. Vanguard Group Inc. now owns 59,982,344 shares of the real estate investment trust’s stock valued at $15,068,764,000 after purchasing an additional 824,408 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd increased its stake in shares of American Tower by 1,896.4% during the second quarter. Alphinity Investment Management Pty Ltd now owns 821,915 shares of the real estate investment trust’s stock valued at $210,073,000 after purchasing an additional 780,746 shares in the last quarter. 91.03% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Up 0.1 %

NYSE:AMT opened at $218.25 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.87. American Tower Co. has a 12 month low of $178.17 and a 12 month high of $294.40. The company has a market cap of $101.62 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.10 and a beta of 0.53. The company has a 50 day simple moving average of $210.14 and a two-hundred day simple moving average of $240.28.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, October 7th. This is an increase from American Tower’s previous quarterly dividend of $1.43. American Tower’s payout ratio is 93.33%.

Insiders Place Their Bets

In other American Tower news, EVP Edmund Disanto sold 35,000 shares of American Tower stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $207.20, for a total value of $7,252,000.00. Following the completion of the sale, the executive vice president now owns 157,685 shares of the company’s stock, valued at approximately $32,672,332. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Edmund Disanto sold 35,000 shares of American Tower stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $207.20, for a total transaction of $7,252,000.00. Following the transaction, the executive vice president now owns 157,685 shares in the company, valued at approximately $32,672,332. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joann A. Reed sold 1,231 shares of American Tower stock in a transaction on Friday, October 28th. The stock was sold at an average price of $204.88, for a total transaction of $252,207.28. Following the transaction, the director now owns 54,554 shares in the company, valued at approximately $11,177,023.52. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMT shares. KeyCorp decreased their target price on shares of American Tower from $264.00 to $252.00 and set an “overweight” rating for the company in a research note on Friday, October 28th. The Goldman Sachs Group decreased their target price on shares of American Tower from $250.00 to $215.00 and set a “neutral” rating for the company in a research note on Wednesday, October 12th. Morgan Stanley decreased their target price on shares of American Tower from $257.00 to $209.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 18th. Wells Fargo & Company reduced their price target on shares of American Tower from $235.00 to $225.00 and set an “overweight” rating for the company in a research report on Friday, October 28th. Finally, Cowen reduced their price target on shares of American Tower to $279.00 in a research report on Tuesday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.40.

American Tower Profile

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American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.

Further Reading

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

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