Cetera Investment Advisers lowered its position in shares of American Tower Corp (NYSE:AMT) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,115 shares of the real estate investment trust’s stock after selling 197 shares during the quarter. Cetera Investment Advisers’ holdings in American Tower were worth $421,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of American Tower by 15,525.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,579,832 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 7,531,324 shares during the last quarter. FMR LLC increased its holdings in shares of American Tower by 32.6% in the fourth quarter. FMR LLC now owns 20,144,710 shares of the real estate investment trust’s stock valued at $3,186,692,000 after purchasing an additional 4,949,323 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of American Tower by 6.7% in the third quarter. Vanguard Group Inc now owns 56,635,438 shares of the real estate investment trust’s stock valued at $8,229,130,000 after purchasing an additional 3,579,249 shares during the last quarter. Norges Bank acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $546,909,000. Finally, Jennison Associates LLC increased its holdings in shares of American Tower by 203.6% in the fourth quarter. Jennison Associates LLC now owns 2,881,240 shares of the real estate investment trust’s stock valued at $455,783,000 after purchasing an additional 1,932,136 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
AMT stock opened at $198.07 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31. The firm has a market cap of $87.03 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 1.61 and a beta of 0.66. American Tower Corp has a 52-week low of $134.87 and a 52-week high of $201.20.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Thursday, April 11th were paid a dividend of $0.90 per share. This is a boost from American Tower’s previous quarterly dividend of $0.84. The ex-dividend date was Wednesday, April 10th. This represents a $3.60 annualized dividend and a yield of 1.82%. American Tower’s dividend payout ratio (DPR) is 45.06%.
Several equities research analysts recently commented on the company. Royal Bank of Canada increased their price target on American Tower from $195.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday, May 9th. SunTrust Banks increased their price target on American Tower to $210.00 and gave the company a “positive” rating in a report on Monday, May 6th. Oppenheimer reaffirmed a “market perform” rating and issued a $173.00 price target on shares of American Tower in a report on Thursday, February 28th. They noted that the move was a valuation call. Wells Fargo & Co cut American Tower from an “outperform” rating to a “market perform” rating and increased their price target for the company from $190.00 to $196.00 in a report on Monday, April 15th. They noted that the move was a valuation call. Finally, Macquarie reaffirmed a “buy” rating and issued a $210.00 price target on shares of American Tower in a report on Thursday, February 28th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $180.44.
In other American Tower news, Director David E. Sharbutt sold 2,035 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $192.15, for a total transaction of $391,025.25. Following the completion of the sale, the director now owns 1,897 shares of the company’s stock, valued at $364,508.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joann A. Reed sold 1,538 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $175.61, for a total value of $270,088.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 171,718 shares of company stock valued at $33,175,251. 0.75% of the stock is owned by insiders.
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About American Tower
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 approximately 171,000 communications sites.
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