Exxonmobil Investment Management Inc. TX cut its position in shares of American Tower Corp (NYSE:AMT) by 13.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,190 shares of the real estate investment trust’s stock after selling 10,184 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in American Tower were worth $9,729,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMT. CIBC World Markets Inc. raised its position in American Tower by 100.6% in the second quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock worth $2,813,000 after acquiring an additional 10,663 shares during the period. Vident Investment Advisory LLC raised its position in American Tower by 166.9% in the third quarter. Vident Investment Advisory LLC now owns 4,019 shares of the real estate investment trust’s stock worth $550,000 after acquiring an additional 2,513 shares during the period. BB&T Corp raised its position in American Tower by 3.1% in the third quarter. BB&T Corp now owns 37,161 shares of the real estate investment trust’s stock worth $5,079,000 after acquiring an additional 1,104 shares during the period. Heritage Investors Management Corp raised its position in American Tower by 13.9% in the third quarter. Heritage Investors Management Corp now owns 23,902 shares of the real estate investment trust’s stock worth $3,267,000 after acquiring an additional 2,915 shares during the period. Finally, Zions Bancorporation raised its position in American Tower by 4,708.4% in the third quarter. Zions Bancorporation now owns 3,991 shares of the real estate investment trust’s stock worth $546,000 after acquiring an additional 3,908 shares during the period. Institutional investors and hedge funds own 91.61% of the company’s stock.

Several brokerages have commented on AMT. Zacks Investment Research raised shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research report on Tuesday, January 2nd. Oppenheimer lifted their price objective on shares of American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $172.00 price objective on shares of American Tower in a research report on Wednesday, December 13th. ValuEngine lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $177.00 price objective (up previously from $156.00) on shares of American Tower in a research report on Monday, November 27th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $158.60.

In related news, Director David E. Sharbutt sold 1,584 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total transaction of $228,792.96. Following the completion of the transaction, the director now owns 4,861 shares of the company’s stock, valued at $702,122.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total transaction of $715,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 109,251 shares of company stock worth $15,765,734. Insiders own 0.86% of the company’s stock.

American Tower Corp (NYSE:AMT) traded down $0.31 during midday trading on Tuesday, hitting $141.70. 531,472 shares of the stock traded hands, compared to its average volume of 1,876,520. American Tower Corp has a one year low of $102.51 and a one year high of $155.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $60,800.00, a price-to-earnings ratio of 53.88, a P/E/G ratio of 1.46 and a beta of 0.73.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th will be given a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 1.98%. This is a positive change from American Tower’s previous quarterly dividend of $0.66. American Tower’s payout ratio is 106.46%.

American Tower declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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American Tower Company Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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