American Tower Corporation $AMT Shares Sold by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC reduced its stake in American Tower Corporation (NYSE:AMT) by 22.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,927 shares of the real estate investment trust’s stock after selling 22,883 shares during the period. American Tower makes up about 0.9% of Knights of Columbus Asset Advisors LLC’s holdings, making the stock its 19th largest holding. Knights of Columbus Asset Advisors LLC’s holdings in American Tower were worth $15,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Pittenger & Anderson Inc. grew its position in shares of American Tower by 6.0% during the third quarter. Pittenger & Anderson Inc. now owns 4,300 shares of the real estate investment trust’s stock worth $827,000 after buying an additional 245 shares in the last quarter. Alpha Cubed Investments LLC grew its holdings in American Tower by 9.8% during the 3rd quarter. Alpha Cubed Investments LLC now owns 237,591 shares of the real estate investment trust’s stock worth $45,694,000 after acquiring an additional 21,284 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of American Tower by 29.4% in the 3rd quarter. Golden State Wealth Management LLC now owns 801 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 182 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of American Tower by 7.6% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,486 shares of the real estate investment trust’s stock valued at $670,000 after purchasing an additional 245 shares in the last quarter. Finally, Cloud Capital Management LLC acquired a new position in shares of American Tower during the third quarter worth $36,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 2.1%

Shares of American Tower stock opened at $181.25 on Friday. The company’s fifty day moving average is $177.45 and its two-hundred day moving average is $190.82. American Tower Corporation has a 1 year low of $166.88 and a 1 year high of $234.33. The company has a debt-to-equity ratio of 3.24, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $84.85 billion, a P/E ratio of 28.95, a PEG ratio of 0.74 and a beta of 0.92.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $0.14. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.65 billion. American Tower had a return on equity of 28.79% and a net margin of 28.11%.The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $2.52 earnings per share. Analysts forecast that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, December 29th will be paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, December 29th. American Tower’s payout ratio is currently 108.63%.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. Argus set a $210.00 price target on American Tower in a report on Thursday, October 30th. UBS Group cut their target price on American Tower from $260.00 to $254.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. Scotiabank cut their price objective on shares of American Tower from $248.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, January 14th. The Goldman Sachs Group lowered their target price on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a report on Friday, January 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.79.

Insider Activity at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total value of $159,631,314.75. Following the sale, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

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.