Xact Kapitalforvaltning AB reduced its position in shares of American Tower Corp (NYSE:AMT) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 73,234 shares of the real estate investment trust’s stock after selling 4,706 shares during the period. Xact Kapitalforvaltning AB’s holdings in American Tower were worth $10,641,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AMT. BlackRock Inc. increased its position in American Tower by 8.9% during the second quarter. BlackRock Inc. now owns 29,362,957 shares of the real estate investment trust’s stock worth $4,233,258,000 after purchasing an additional 2,410,425 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in American Tower during the second quarter worth about $155,992,000. Dimensional Fund Advisors LP increased its position in American Tower by 13.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,032,192 shares of the real estate investment trust’s stock worth $869,663,000 after purchasing an additional 713,894 shares during the last quarter. Putnam Investments LLC increased its position in American Tower by 19.5% during the second quarter. Putnam Investments LLC now owns 2,710,662 shares of the real estate investment trust’s stock worth $390,796,000 after purchasing an additional 441,479 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in American Tower by 12.6% during the first quarter. Principal Financial Group Inc. now owns 3,595,781 shares of the real estate investment trust’s stock worth $522,610,000 after purchasing an additional 402,859 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Shares of AMT traded up $1.69 during trading on Friday, reaching $148.48. 5,024 shares of the company traded hands, compared to its average volume of 1,689,266. American Tower Corp has a twelve month low of $130.37 and a twelve month high of $155.28. The stock has a market cap of $64.66 billion, a PE ratio of 23.27, a P/E/G ratio of 1.57 and a beta of 0.80. The company has a debt-to-equity ratio of 2.99, a current ratio of 0.66 and a quick ratio of 0.66.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.04). American Tower had a net margin of 16.34% and a return on equity of 16.72%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. American Tower’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that American Tower Corp will post 7.1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Friday, September 28th were given a dividend of $0.79 per share. The ex-dividend date was Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.13%. American Tower’s dividend payout ratio (DPR) is currently 49.53%.

In other news, Director David E. Sharbutt sold 1,321 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $150.48, for a total value of $198,784.08. Following the completion of the transaction, the director now owns 4,781 shares of the company’s stock, valued at $719,444.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman James D. Taiclet, Jr. sold 43,808 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $150.65, for a total transaction of $6,599,675.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,281 shares of company stock valued at $12,014,625. Company insiders own 0.87% of the company’s stock.

Several equities research analysts recently issued reports on AMT shares. Wells Fargo & Co raised their price objective on shares of American Tower from $150.00 to $158.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 3rd. Zacks Investment Research cut shares of American Tower from a “hold” rating to a “sell” rating in a research report on Friday, July 6th. Raymond James cut shares of American Tower from an “outperform” rating to a “market perform” rating in a research report on Monday, July 9th. JPMorgan Chase & Co. cut shares of American Tower from an “overweight” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research report on Tuesday, July 10th. Finally, Guggenheim cut shares of American Tower from a “buy” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research report on Monday, July 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $162.14.

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 approximately 170,000 communications sites.

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

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