American Tower Corporation $AMT Stock Holdings Lowered by Northeast Investment Management

Northeast Investment Management trimmed its holdings in shares of American Tower Corporation (NYSE:AMT) by 1.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 167,051 shares of the real estate investment trust’s stock after selling 2,979 shares during the period. American Tower comprises approximately 1.3% of Northeast Investment Management’s investment portfolio, making the stock its 23rd biggest position. Northeast Investment Management’s holdings in American Tower were worth $32,127,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AMT. NEOS Investment Management LLC lifted its position in shares of American Tower by 66.5% during the 3rd quarter. NEOS Investment Management LLC now owns 105,552 shares of the real estate investment trust’s stock valued at $20,300,000 after acquiring an additional 42,176 shares during the last quarter. Mondrian Investment Partners LTD acquired a new stake in shares of American Tower during the third quarter worth $1,019,000. Summitry LLC raised its position in shares of American Tower by 109.9% during the third quarter. Summitry LLC now owns 2,099 shares of the real estate investment trust’s stock worth $404,000 after purchasing an additional 1,099 shares during the period. M&G PLC lifted its holdings in shares of American Tower by 14.2% during the third quarter. M&G PLC now owns 1,009,526 shares of the real estate investment trust’s stock valued at $193,829,000 after purchasing an additional 125,241 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of American Tower by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 63,640,168 shares of the real estate investment trust’s stock valued at $12,239,277,000 after purchasing an additional 611,801 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. TD Cowen cut their price objective on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Morgan Stanley dropped their target price on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, December 4th. The Goldman Sachs Group reduced their price target on shares of American Tower from $230.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, January 16th. BMO Capital Markets lowered shares of American Tower from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $210.00 to $185.00 in a research note on Friday, January 9th. Finally, Wells Fargo & Company lowered their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the 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.

American Tower Trading Up 0.4%

Shares of NYSE:AMT opened at $192.89 on Wednesday. The firm has a fifty day moving average of $177.70 and a two-hundred day 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 12-month low of $166.88 and a 12-month high of $234.33. The firm has a market capitalization of $90.30 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93.

American Tower Announces Dividend

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

Insider Buying and Selling

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

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.