RMB Capital Management LLC Sells 3,741 Shares of American Tower Co. (NYSE:AMT)

RMB Capital Management LLC cut its position in American Tower Co. (NYSE:AMTFree Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,682 shares of the real estate investment trust’s stock after selling 3,741 shares during the quarter. RMB Capital Management LLC’s holdings in American Tower were worth $22,815,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in American Tower by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 60,930,583 shares of the real estate investment trust’s stock worth $10,020,034,000 after purchasing an additional 196,942 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of American Tower by 5.6% in the third quarter. Wellington Management Group LLP now owns 12,984,052 shares of the real estate investment trust’s stock worth $2,135,227,000 after buying an additional 691,934 shares in the last quarter. Morgan Stanley grew its stake in American Tower by 3.7% during the 3rd quarter. Morgan Stanley now owns 7,269,957 shares of the real estate investment trust’s stock valued at $1,195,545,000 after acquiring an additional 258,030 shares in the last quarter. Akre Capital Management LLC lifted its stake in American Tower by 0.5% in the 4th quarter. Akre Capital Management LLC now owns 6,804,599 shares of the real estate investment trust’s stock worth $1,468,977,000 after purchasing an additional 36,375 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of American Tower by 2.1% during the 3rd quarter. FMR LLC now owns 6,628,436 shares of the real estate investment trust’s stock worth $1,090,046,000 after purchasing an additional 138,303 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Barclays decreased their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Raymond James upgraded American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $226.00 to $248.00 in a report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $220.91.

Get Our Latest Research Report on AMT

American Tower Stock Down 0.5 %

Shares of NYSE AMT traded down $1.05 during midday trading on Tuesday, hitting $193.67. The company’s stock had a trading volume of 1,657,139 shares, compared to its average volume of 2,448,560. The firm has a market capitalization of $90.44 billion, a price-to-earnings ratio of 44.19, a price-to-earnings-growth ratio of 1.39 and a beta of 0.79. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $219.10. The business’s fifty day simple moving average is $184.85 and its two-hundred day simple moving average is $196.21.

American Tower (NYSE:AMTGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the business earned $2.54 EPS. American Tower’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts predict that American Tower Co. will post 9.98 EPS for the current year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio is presently 146.61%.

Insider Activity

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

About American Tower

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTFree Report).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.