ExodusPoint Capital Management LP lessened its position in shares of American Tower Co. (REIT) (NYSE:AMT) by 86.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,358 shares of the real estate investment trust’s stock after selling 8,918 shares during the period. ExodusPoint Capital Management LP’s holdings in American Tower were worth $305,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of American Tower by 2.3% during the 4th quarter. BlackRock Inc. now owns 34,348,573 shares of the real estate investment trust’s stock worth $7,709,879,000 after buying an additional 776,600 shares during the last quarter. Akre Capital Management LLC raised its stake in shares of American Tower by 1.4% during the 4th quarter. Akre Capital Management LLC now owns 7,130,558 shares of the real estate investment trust’s stock worth $1,600,525,000 after buying an additional 97,189 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of American Tower by 19.5% during the 4th quarter. Principal Financial Group Inc. now owns 4,749,596 shares of the real estate investment trust’s stock worth $1,066,094,000 after buying an additional 776,322 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of American Tower by 1.3% during the 4th quarter. Bank of New York Mellon Corp now owns 4,195,305 shares of the real estate investment trust’s stock worth $941,676,000 after buying an additional 52,629 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of American Tower by 2.2% during the 4th quarter. California Public Employees Retirement System now owns 2,763,138 shares of the real estate investment trust’s stock worth $620,214,000 after buying an additional 58,469 shares during the last quarter. 89.97% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on the company. Royal Bank of Canada dropped their price objective on American Tower from $275.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, March 15th. Credit Suisse Group dropped their price objective on American Tower from $307.00 to $296.00 and set an “outperform” rating for the company in a research report on Thursday, March 4th. KeyCorp upgraded American Tower from a “sector weight” rating to an “overweight” rating and set a $275.00 price objective for the company in a research report on Wednesday, March 31st. Raymond James lowered their price target on American Tower from $258.00 to $244.00 and set an “outperform” rating for the company in a report on Thursday, March 4th. Finally, Wolfe Research started coverage on American Tower in a report on Thursday, March 18th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. American Tower has a consensus rating of “Buy” and a consensus target price of $270.55.

Shares of NYSE:AMT opened at $244.71 on Thursday. The company has a debt-to-equity ratio of 5.73, a quick ratio of 1.35 and a current ratio of 1.35. American Tower Co. has a 1 year low of $197.50 and a 1 year high of $272.20. The stock has a market capitalization of $108.75 billion, a P/E ratio of 57.85, a PEG ratio of 1.57 and a beta of 0.25. The stock has a 50-day simple moving average of $222.85 and a 200-day simple moving average of $228.80.

American Tower (NYSE:AMT) last issued its earnings results on Wednesday, February 24th. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.45). American Tower had a return on equity of 42.42% and a net margin of 24.08%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the firm posted $1.95 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that American Tower Co. will post 8.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 29th. Stockholders of record on Tuesday, April 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Monday, April 12th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from American Tower’s previous quarterly dividend of $1.21. American Tower’s payout ratio is presently 62.61%.

In related news, EVP Olivier Puech sold 3,268 shares of the business’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $220.00, for a total transaction of $718,960.00. Following the transaction, the executive vice president now directly owns 19,531 shares of the company’s stock, valued at approximately $4,296,820. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

American Tower 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 181,000 communications sites.

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

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