AIA Group Ltd cut its holdings in American Tower Co. (NYSE:AMT – Get Rating) by 84.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,094 shares of the real estate investment trust’s stock after selling 5,727 shares during the period. AIA Group Ltd’s holdings in American Tower were worth $232,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in AMT. Cottage Street Advisors LLC boosted its holdings in shares of American Tower by 17,322.3% in the 4th quarter. Cottage Street Advisors LLC now owns 1,495,527 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 1,486,943 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in American Tower by 19.5% in the third quarter. Nuveen Asset Management LLC now owns 4,658,127 shares of the real estate investment trust’s stock valued at $1,000,100,000 after acquiring an additional 760,958 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in shares of American Tower during the third quarter worth about $134,642,000. Brown Advisory Inc. raised its position in shares of American Tower by 16.6% during the 3rd quarter. Brown Advisory Inc. now owns 3,021,421 shares of the real estate investment trust’s stock valued at $648,700,000 after acquiring an additional 430,395 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of American Tower by 8.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,073,686 shares of the real estate investment trust’s stock worth $1,089,321,000 after purchasing an additional 408,300 shares during the period. 89.65% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have commented on AMT. Royal Bank of Canada decreased their target price on shares of American Tower from $240.00 to $230.00 and set an “outperform” rating for the company in a research report on Monday, March 6th. Credit Suisse Group dropped their price target on shares of American Tower from $251.00 to $244.00 and set an “outperform” rating on the stock in a research report on Friday, February 24th. Morgan Stanley upped their target price on American Tower from $219.00 to $224.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on American Tower from $254.00 to $245.00 in a report on Tuesday, March 7th. Finally, Barclays cut their price objective on American Tower from $246.00 to $229.00 in a report on Thursday, March 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $257.76.
American Tower Trading Down 1.9 %
American Tower (NYSE:AMT – Get Rating) last posted its earnings results on Thursday, February 23rd. The real estate investment trust reported ($1.47) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.16 by ($3.63). American Tower had a return on equity of 15.80% and a net margin of 16.49%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the previous year, the company earned $2.18 EPS. The business’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that American Tower Co. will post 9.26 EPS for the current fiscal year.
American Tower Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be given a dividend of $1.56 per share. The ex-dividend date is Thursday, April 13th. This represents a $6.24 annualized dividend and a dividend yield of 3.02%. American Tower’s dividend payout ratio is currently 162.50%.
Insider Buying and Selling
In other American Tower news, CFO Rodney M. Smith sold 1,574 shares of the company’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total value of $368,190.08. Following the transaction, the chief financial officer now directly owns 47,071 shares in the company, valued at approximately $11,010,848.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Samme L. Thompson sold 1,739 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $218.59, for a total transaction of $380,128.01. Following the completion of the transaction, the director now owns 22,099 shares in the company, valued at $4,830,620.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Rodney M. Smith sold 1,574 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total value of $368,190.08. Following the completion of the transaction, the chief financial officer now owns 47,071 shares of the company’s stock, valued at approximately $11,010,848.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,932 shares of company stock valued at $1,127,035. Corporate insiders own 0.24% of the company’s stock.
American Tower Profile
American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It offers leasing of space on communications sites to wireless service providers, radio and television broadcast companies. It operates through the following segments: U.S.
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