Tiaa Fsb reduced its holdings in American Tower Corp (NYSE:AMT) by 4.8% in the third quarter, HoldingsChannel reports. The firm owned 57,116 shares of the real estate investment trust’s stock after selling 2,910 shares during the period. Tiaa Fsb’s holdings in American Tower were worth $12,630,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of AMT. Nelson Roberts Investment Advisors LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $27,000. NewSquare Capital LLC increased its holdings in shares of American Tower by 192.3% during the second quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Next Capital Management LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $31,000. CX Institutional increased its holdings in shares of American Tower by 54.9% during the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 56 shares in the last quarter. Finally, Litman Gregory Asset Management LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 92.50% of the company’s stock.
Shares of NYSE:AMT traded up $0.53 during mid-day trading on Wednesday, hitting $226.63. 137,028 shares of the company traded hands, compared to its average volume of 1,774,356. The stock has a market cap of $100.02 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.83 and a beta of 0.44. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 4.13. American Tower Corp has a 12-month low of $140.40 and a 12-month high of $242.00. The stock has a 50-day moving average price of $225.36 and a two-hundred day moving average price of $209.62.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, September 27th will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $3.80 annualized dividend and a yield of 1.68%. This is a boost from American Tower’s previous quarterly dividend of $0.92. American Tower’s payout ratio is currently 47.56%.
In other American Tower news, CEO James D. Taiclet, Jr. sold 57,438 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $211.89, for a total value of $12,170,537.82. Following the transaction, the chief executive officer now owns 255,414 shares of the company’s stock, valued at $54,119,672.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Edmund Disanto sold 63,686 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $221.06, for a total value of $14,078,427.16. The disclosure for this sale can be found here. In the last three months, insiders sold 168,332 shares of company stock worth $36,957,715. Insiders own 0.75% of the company’s stock.
AMT has been the topic of several analyst reports. ValuEngine cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their target price on American Tower from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. SunTrust Banks lifted their target price on American Tower to $230.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their target price on American Tower from $201.00 to $216.00 and gave the company an “equal weight” rating in a research report on Thursday, September 19th. Finally, Zacks Investment Research raised American Tower from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. American Tower currently has an average rating of “Hold” and a consensus target price of $206.87.
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.
Recommended Story: After-Hours Trading
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 Corp (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.