American Tower Co. (NYSE:AMT) Shares Sold by Team Hewins LLC

Team Hewins LLC cut its stake in American Tower Co. (NYSE:AMT) by 65.9% during the 1st quarter, HoldingsChannel reports. The fund owned 1,721 shares of the real estate investment trust’s stock after selling 3,329 shares during the period. Team Hewins LLC’s holdings in American Tower were worth $340,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMT. Norges Bank acquired a new position in American Tower in the fourth quarter worth about $1,051,898,000. Wellington Management Group LLP increased its holdings in shares of American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after acquiring an additional 2,839,570 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of American Tower by 36.2% during the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after acquiring an additional 2,336,501 shares in the last quarter. Edgewood Management LLC lifted its stake in American Tower by 46.2% during the fourth quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock worth $1,076,352,000 after purchasing an additional 1,576,683 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in American Tower by 41.0% in the fourth quarter. Jennison Associates LLC now owns 5,299,306 shares of the real estate investment trust’s stock worth $1,144,014,000 after purchasing an additional 1,541,029 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other American Tower news, Director Robert D. Hormats sold 700 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total value of $128,450.00. Following the transaction, the director now owns 7,332 shares of the company’s stock, valued at $1,345,422. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now owns 28,413 shares of the company’s stock, valued at $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.50, for a total value of $128,450.00. Following the completion of the transaction, the director now directly owns 7,332 shares in the company, valued at approximately $1,345,422. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. BMO Capital Markets decreased their target price on American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Scotiabank decreased their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $226.00 to $248.00 in a research report on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of American Tower in a research note on Monday, July 1st. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Morgan Stanley lifted their target price on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $221.67.

American Tower Stock Performance

Shares of AMT stock traded up $8.63 during trading on Thursday, reaching $205.40. The company had a trading volume of 1,316,307 shares, compared to its average volume of 2,364,751. American Tower Co. has a one year low of $154.58 and a one year high of $219.10. The company has a market capitalization of $95.92 billion, a PE ratio of 46.04, a PEG ratio of 1.40 and a beta of 0.81. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $191.67 and its two-hundred day simple moving average is $194.11.

American Tower (NYSE:AMT) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter last year, the business earned $2.54 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is presently 146.61%.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.