GSA Capital Partners LLP Cuts Position in American Tower Corporation (NYSE:AMT)

GSA Capital Partners LLP decreased its holdings in American Tower Corporation (NYSE:AMT) by 79.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,802 shares of the real estate investment trust’s stock after selling 14,926 shares during the quarter. GSA Capital Partners LLP’s holdings in American Tower were worth $827,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AMT. Brighton Jones LLC raised its position in American Tower by 113.0% in the fourth quarter. Brighton Jones LLC now owns 3,966 shares of the real estate investment trust’s stock worth $727,000 after acquiring an additional 2,104 shares in the last quarter. Headlands Technologies LLC increased its position in shares of American Tower by 8.6% in the fourth quarter. Headlands Technologies LLC now owns 3,188 shares of the real estate investment trust’s stock valued at $585,000 after buying an additional 252 shares in the last quarter. OneAscent Financial Services LLC purchased a new position in shares of American Tower in the fourth quarter valued at $421,000. World Investment Advisors increased its position in shares of American Tower by 42.7% in the fourth quarter. World Investment Advisors now owns 5,773 shares of the real estate investment trust’s stock valued at $1,059,000 after buying an additional 1,728 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of American Tower by 26.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 5,015 shares of the real estate investment trust’s stock valued at $920,000 after buying an additional 1,045 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 1.8%

NYSE:AMT opened at $212.18 on Friday. American Tower Corporation has a 12-month low of $172.51 and a 12-month high of $243.56. The firm has a market capitalization of $99.33 billion, a P/E ratio of 77.16, a P/E/G ratio of 1.15 and a beta of 0.82. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.81. The business has a 50 day simple moving average of $218.73 and a 200 day simple moving average of $210.32.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the firm posted $2.79 EPS. The business’s revenue for the quarter was down 9.4% compared to the same quarter last year. Equities research analysts predict that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were given a dividend of $1.70 per share. The ex-dividend date was Friday, June 13th. This represents a $6.80 dividend on an annualized basis and a yield of 3.2%. American Tower’s payout ratio is currently 247.27%.

Insider Transactions at American Tower

In other American Tower news, CEO Juan Font sold 720 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the transaction, the chief executive officer owned 23,425 shares in the company, valued at approximately $4,880,130.25. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMT. Scotiabank raised their price target on American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 30th. UBS Group raised their target price on American Tower from $250.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Bank of America initiated coverage on American Tower in a report on Monday, May 19th. They set a “buy” rating and a $255.00 target price on the stock. JMP Securities raised their target price on American Tower from $248.00 to $260.00 and gave the company a “market outperform” rating in a report on Wednesday, April 30th. Finally, Hsbc Global Res downgraded American Tower from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.88.

American Tower Company Profile

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.