IBM Retirement Fund decreased its stake in American Tower Co. (NYSE:AMT) by 4.2% during the first quarter, Holdings Channel reports. The institutional investor owned 9,998 shares of the real estate investment trust’s stock after selling 437 shares during the quarter. IBM Retirement Fund’s holdings in American Tower were worth $1,453,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Security National Trust Co. increased its holdings in shares of American Tower by 7.7% in the 4th quarter. Security National Trust Co. now owns 5,035 shares of the real estate investment trust’s stock worth $718,000 after buying an additional 360 shares during the last quarter. ETRADE Capital Management LLC increased its holdings in shares of American Tower by 9.5% in the 4th quarter. ETRADE Capital Management LLC now owns 4,253 shares of the real estate investment trust’s stock worth $607,000 after buying an additional 368 shares during the last quarter. D.A. Davidson & CO. increased its holdings in shares of American Tower by 3.1% in the 4th quarter. D.A. Davidson & CO. now owns 12,919 shares of the real estate investment trust’s stock worth $1,843,000 after buying an additional 384 shares during the last quarter. Wetherby Asset Management Inc. increased its holdings in shares of American Tower by 4.9% in the 4th quarter. Wetherby Asset Management Inc. now owns 8,373 shares of the real estate investment trust’s stock worth $1,195,000 after buying an additional 393 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in shares of American Tower by 0.5% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 87,962 shares of the real estate investment trust’s stock worth $12,550,000 after buying an additional 396 shares during the last quarter. 92.22% of the stock is currently owned by hedge funds and other institutional investors.
Get American Tower alerts:Shares of AMT opened at $136.33 on Friday. The firm has a market cap of $60.21 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.54 and a beta of 0.77. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.83 and a quick ratio of 0.83. American Tower Co. has a twelve month low of $125.24 and a twelve month high of $155.28.
American Tower (NYSE:AMT) last announced its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.63 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.68 by ($1.05). The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.73 billion. American Tower had a net margin of 17.51% and a return on equity of 17.03%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 EPS. equities research analysts forecast that American Tower Co. will post 7.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Tuesday, June 19th will be given a dividend of $0.77 per share. The ex-dividend date is Monday, June 18th. This represents a $3.08 annualized dividend and a yield of 2.26%. This is a boost from American Tower’s previous quarterly dividend of $0.75. American Tower’s dividend payout ratio is presently 47.02%.
In other American Tower news, EVP Amit Sharma sold 32,943 shares of the company’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $138.82, for a total value of $4,573,147.26. Following the completion of the transaction, the executive vice president now directly owns 111,558 shares in the company, valued at approximately $15,486,481.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joann A. Reed sold 845 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $146.83, for a total transaction of $124,071.35. The disclosure for this sale can be found here. Insiders have sold a total of 65,579 shares of company stock valued at $9,319,595 in the last three months. 0.87% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on AMT shares. Citigroup cut their price objective on shares of American Tower from $162.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. ValuEngine cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. KeyCorp set a $171.00 price objective on shares of American Tower and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Morgan Stanley cut their price objective on shares of American Tower from $161.00 to $157.00 and set an “overweight” rating for the company in a research note on Friday, March 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $160.38.
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 150,000 communications sites. For more information about American Tower, please visit the ?Earnings Materials? and ?Company & Industry Resources? sections of our investor relations website at www.americantower.com.
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