Rothschild Investment LLC Sells 17,326 Shares of American Tower Corporation $AMT

Rothschild Investment LLC lowered its stake in shares of American Tower Corporation (NYSE:AMT) by 78.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,895 shares of the real estate investment trust’s stock after selling 17,326 shares during the period. Rothschild Investment LLC’s holdings in American Tower were worth $941,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AMT. Mondrian Investment Partners LTD bought a new position in American Tower during the third quarter valued at approximately $1,019,000. Summitry LLC lifted its holdings in shares of American Tower by 109.9% during the 3rd quarter. Summitry LLC now owns 2,099 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 1,099 shares during the period. M&G PLC boosted its stake in shares of American Tower by 14.2% in the 3rd quarter. M&G PLC now owns 1,009,526 shares of the real estate investment trust’s stock worth $193,829,000 after buying an additional 125,241 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of American Tower by 1.0% in the third quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock worth $12,239,277,000 after acquiring an additional 611,801 shares during the period. Finally, Texas Yale Capital Corp. increased its position in American Tower by 10.7% during the third quarter. Texas Yale Capital Corp. now owns 16,593 shares of the real estate investment trust’s stock valued at $3,191,000 after acquiring an additional 1,609 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In related news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 0.4%

AMT opened at $192.89 on Wednesday. The company has a market capitalization of $90.30 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93. The firm has a 50-day simple moving average of $177.70 and a two-hundred day simple moving average of $186.56. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 52 week low of $166.88 and a 52 week high of $234.33.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMT. Scotiabank dropped their target price on American Tower from $248.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating for the company in a report on Monday, January 12th. TD Cowen dropped their price target on shares of American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Finally, Mizuho lowered their target price on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average target price of $218.79.

American Tower 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.