American Tower Co. (NYSE:AMT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of American Tower Co. (NYSE:AMTFree Report) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,287 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. Assenagon Asset Management S.A.’s holdings in American Tower were worth $3,084,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMT. McClarren Financial Advisors Inc. acquired a new position in shares of American Tower during the 3rd quarter worth approximately $27,000. Emerald Advisers LLC purchased a new stake in shares of American Tower during the third quarter worth approximately $29,000. Thompson Investment Management Inc. purchased a new stake in shares of American Tower during the fourth quarter worth approximately $29,000. Pinnacle Holdings LLC purchased a new stake in shares of American Tower during the first quarter worth approximately $29,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of American Tower during the second quarter worth approximately $30,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMT. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets dropped their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Barclays upped their target price on American Tower from $224.00 to $234.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. dropped their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, HSBC started coverage on American Tower in a report on Thursday, December 14th. They issued a “buy” rating and a $245.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $215.90.

Check Out Our Latest Stock Analysis on AMT

American Tower Stock Performance

NYSE AMT opened at $192.18 on Wednesday. The stock has a fifty day simple moving average of $195.73 and a 200-day simple moving average of $192.53. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29. The stock has a market cap of $89.62 billion, a PE ratio of 60.43, a P/E/G ratio of 1.37 and a beta of 0.67.

American Tower (NYSE:AMTGet Free Report) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period in the previous year, the company posted $2.34 EPS. American Tower’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.37%. The ex-dividend date is Thursday, April 11th. American Tower’s payout ratio is 203.77%.

About American Tower

(Free Report)

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.

See Also

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

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