American Tower Co. (NYSE:AMT) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its position in shares of American Tower Co. (NYSE:AMT) by 64.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,000 shares of the real estate investment trust’s stock after selling 20,300 shares during the quarter. Intact Investment Management Inc.’s holdings in American Tower were worth $2,018,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after buying an additional 204,426 shares during the last quarter. FMR LLC raised its stake in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after buying an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of American Tower by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,316,312 shares of the real estate investment trust’s stock valued at $975,065,000 after buying an additional 107,345 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after buying an additional 38,436 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AMT. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Barclays reduced their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Morgan Stanley cut their price target on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.29.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $211.02 on Friday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a 50 day moving average of $192.33 and a two-hundred day moving average of $205.96. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $98.64 billion, a P/E ratio of 89.04, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping the consensus estimate of $1.79 by $0.83. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. American Tower’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.29 EPS. On average, analysts expect that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is a boost from American Tower’s previous quarterly dividend of $1.62. This represents a $6.80 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Friday, April 11th. American Tower’s payout ratio is currently 141.37%.

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