Profund Advisors LLC Decreases Position in American Tower Corp (NYSE:AMT)

Profund Advisors LLC lessened its holdings in American Tower Corp (NYSE:AMT) by 39.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,666 shares of the real estate investment trust’s stock after selling 12,355 shares during the period. Profund Advisors LLC’s holdings in American Tower were worth $4,290,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMT. State Street Corp boosted its position in American Tower by 1.3% in the 3rd quarter. State Street Corp now owns 18,612,680 shares of the real estate investment trust’s stock valued at $4,133,390,000 after buying an additional 238,036 shares during the period. Lowe Brockenbrough & Co. Inc. lifted its position in shares of American Tower by 1.0% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 40,279 shares of the real estate investment trust’s stock worth $8,907,000 after purchasing an additional 398 shares during the last quarter. Virtu Financial LLC lifted its position in shares of American Tower by 181.4% during the 3rd quarter. Virtu Financial LLC now owns 11,398 shares of the real estate investment trust’s stock worth $2,520,000 after purchasing an additional 7,348 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its position in shares of American Tower by 0.3% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 104,600 shares of the real estate investment trust’s stock worth $23,130,000 after purchasing an additional 341 shares during the last quarter. Finally, JT Stratford LLC lifted its position in shares of American Tower by 32.0% during the 3rd quarter. JT Stratford LLC now owns 1,465 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 355 shares during the last quarter. 92.24% of the stock is owned by institutional investors.

AMT traded up $22.94 on Thursday, reaching $222.20. The company had a trading volume of 3,413,331 shares, compared to its average volume of 2,340,025. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 5.03. The stock has a market capitalization of $84.27 billion, a PE ratio of 52.53, a P/E/G ratio of 1.28 and a beta of 0.41. American Tower Corp has a 1 year low of $174.32 and a 1 year high of $258.62. The stock has a 50-day moving average price of $235.54 and a 200-day moving average price of $225.48.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.60). The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.93 billion. American Tower had a net margin of 24.90% and a return on equity of 32.51%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. As a group, analysts expect that American Tower Corp will post 8.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Tuesday, April 14th will be paid a $1.08 dividend. The ex-dividend date is Monday, April 13th. This is a positive change from American Tower’s previous quarterly dividend of $1.01. This represents a $4.32 dividend on an annualized basis and a yield of 1.94%. American Tower’s payout ratio is currently 52.26%.

Several equities research analysts have recently issued reports on the stock. Edward Jones raised shares of American Tower from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup raised shares of American Tower from a “neutral” rating to a “buy” rating and set a $280.00 price target for the company in a research report on Thursday, March 5th. New Street Research raised shares of American Tower from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. KeyCorp boosted their price target on shares of American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Raymond James raised shares of American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 price target for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $237.31.

In other American Tower news, EVP Steven O. Vondran sold 1,261 shares of American Tower stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $229.68, for a total value of $289,626.48. Following the transaction, the executive vice president now directly owns 28,705 shares in the company, valued at $6,592,964.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David E. Sharbutt sold 2,200 shares of American Tower stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $243.60, for a total transaction of $535,920.00. Following the completion of the transaction, the director now owns 4,097 shares in the company, valued at $998,029.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,144 shares of company stock worth $2,332,308. 0.75% of the stock is currently owned by company insiders.

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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