American Tower Corporation (REIT) (AMT) Stake Lowered by 361 Capital LLC

361 Capital LLC lessened its stake in American Tower Corporation (REIT) (NYSE:AMT) by 50.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,805 shares of the real estate investment trust’s stock after selling 28,021 shares during the quarter. 361 Capital LLC’s holdings in American Tower Corporation (REIT) were worth $3,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of American Tower Corporation (REIT) by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 28,442,502 shares of the real estate investment trust’s stock valued at $3,763,512,000 after buying an additional 881,020 shares during the last quarter. Janus Henderson Group PLC raised its stake in American Tower Corporation (REIT) by 1,886.3% in the 2nd quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock valued at $988,214,000 after acquiring an additional 7,092,413 shares during the period. Northern Trust Corp raised its stake in American Tower Corporation (REIT) by 9.2% in the 2nd quarter. Northern Trust Corp now owns 6,566,346 shares of the real estate investment trust’s stock valued at $868,858,000 after acquiring an additional 550,608 shares during the period. Principal Financial Group Inc. raised its stake in American Tower Corporation (REIT) by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,164,598 shares of the real estate investment trust’s stock valued at $432,537,000 after acquiring an additional 166,910 shares during the period. Finally, Brookfield Asset Management Inc. raised its stake in American Tower Corporation (REIT) by 10.3% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,628,643 shares of the real estate investment trust’s stock valued at $347,822,000 after acquiring an additional 244,700 shares during the period. 92.04% of the stock is owned by institutional investors.

Shares of American Tower Corporation (NYSE:AMT) traded down $0.56 during midday trading on Thursday, hitting $148.93. The company had a trading volume of 1,631,500 shares, compared to its average volume of 1,979,074. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corporation has a 52 week low of $99.72 and a 52 week high of $155.28. The company has a market capitalization of $64,109.68, a PE ratio of 23.14, a P/E/G ratio of 1.76 and a beta of 0.74.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were given a $0.66 dividend. The ex-dividend date was Thursday, September 28th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is presently 100.38%.

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In related news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $151.20, for a total value of $5,140,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sharma sold 20,747 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $139.67, for a total value of $2,897,733.49. Following the completion of the sale, the executive vice president now directly owns 101,605 shares in the company, valued at $14,191,170.35. The disclosure for this sale can be found here. Insiders sold 147,747 shares of company stock worth $21,195,343 in the last 90 days. 0.86% of the stock is owned by company insiders.

A number of equities research analysts recently weighed in on AMT shares. Jefferies Group LLC restated a “buy” rating and issued a $144.00 price target on shares of American Tower Corporation (REIT) in a research note on Tuesday, September 12th. Zacks Investment Research upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Thursday, August 3rd. Macquarie increased their price target on American Tower Corporation (REIT) from $162.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. BidaskClub upgraded American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Finally, KeyCorp set a $156.00 price objective on American Tower Corporation (REIT) and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. American Tower Corporation (REIT) presently has an average rating of “Buy” and a consensus target price of $157.00.

About American Tower Corporation (REIT)

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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