Rothschild & Co. Asset Management US Inc. cut its holdings in American Tower Corp (NYSE:AMT) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,351 shares of the real estate investment trust’s stock after selling 2,405 shares during the period. Rothschild & Co. Asset Management US Inc.’s holdings in American Tower were worth $17,016,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $25,000. Canton Hathaway LLC acquired a new stake in shares of American Tower in the first quarter valued at approximately $26,000. Acima Private Wealth LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $27,000. WESPAC Advisors SoCal LLC acquired a new stake in shares of American Tower in the fourth quarter valued at approximately $27,000. Finally, Spectrum Management Group Inc. acquired a new stake in shares of American Tower in the first quarter valued at approximately $29,000. Institutional investors own 94.23% of the company’s stock.

In other American Tower news, Director Joann A. Reed sold 1,538 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $175.61, for a total value of $270,088.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert Joseph Meyer, Jr. sold 44,168 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $198.33, for a total transaction of $8,759,839.44. Following the completion of the transaction, the senior vice president now owns 54,460 shares in the company, valued at $10,801,051.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,986 shares of company stock worth $41,954,910. Corporate insiders own 0.75% of the company’s stock.

A number of analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of American Tower from $172.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Royal Bank of Canada boosted their target price on shares of American Tower from $195.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Morgan Stanley boosted their target price on shares of American Tower from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Monday, March 11th. Wells Fargo & Co downgraded shares of American Tower from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $190.00 to $196.00 in a report on Monday, April 15th. They noted that the move was a valuation call. Finally, Oppenheimer downgraded shares of American Tower from an “outperform” rating to a “market perform” rating in a report on Thursday, February 28th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $181.44.

Shares of AMT opened at $203.00 on Friday. The firm has a market cap of $89.73 billion, a P/E ratio of 25.41, a PEG ratio of 1.62 and a beta of 0.66. American Tower Corp has a 1-year low of $134.87 and a 1-year high of $203.38. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.50 and a current ratio of 0.50.

American Tower (NYSE:AMT) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts predict that American Tower Corp will post 7.51 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 19th will be issued a $0.92 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.90. This represents a $3.68 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 18th. American Tower’s payout ratio is currently 45.06%.

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

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