American Tower Corporation $AMT Stock Position Reduced by ABN AMRO Bank N.V.

ABN AMRO Bank N.V. trimmed its position in American Tower Corporation (NYSE:AMT) by 82.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,418 shares of the real estate investment trust’s stock after selling 6,607 shares during the quarter. ABN AMRO Bank N.V.’s holdings in American Tower were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AMT. Analyst IMS Investment Management Services Ltd. grew its position in shares of American Tower by 3.6% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 48 shares during the last quarter. Marion Wealth Management boosted its stake in American Tower by 0.8% in the second quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock valued at $1,309,000 after acquiring an additional 48 shares during the period. Cypress Wealth Services LLC grew its holdings in shares of American Tower by 1.9% during the second quarter. Cypress Wealth Services LLC now owns 2,684 shares of the real estate investment trust’s stock valued at $593,000 after purchasing an additional 49 shares during the last quarter. YANKCOM Partnership grew its holdings in shares of American Tower by 2.9% during the second quarter. YANKCOM Partnership now owns 1,729 shares of the real estate investment trust’s stock valued at $382,000 after purchasing an additional 49 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC raised its position in shares of American Tower by 2.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,566 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 51 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. New Street Research upgraded shares of American Tower from a “neutral” rating to a “buy” rating and set a $203.00 price target for the company in a research report on Monday, January 5th. Morgan Stanley cut their price objective on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, December 4th. Jefferies Financial Group reduced their target price on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Finally, Argus set a $210.00 price target on shares of American Tower in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $218.79.

Insider Buying and Selling

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.

American Tower Stock Performance

Shares of AMT opened at $171.46 on Friday. The firm has a market capitalization of $80.27 billion, a PE ratio of 27.39, a P/E/G ratio of 0.72 and a beta of 0.93. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. The firm has a 50-day moving average price of $176.71 and a 200 day moving average price of $188.79. American Tower Corporation has a 52-week low of $166.88 and a 52-week high of $234.33.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.