Riverhead Capital Management LLC lowered its stake in American Tower Corp (NYSE:AMT) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,176 shares of the real estate investment trust’s stock after selling 3,920 shares during the period. Riverhead Capital Management LLC’s holdings in American Tower were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Pinnacle Financial Partners Inc. grew its stake in shares of American Tower by 1.3% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 23,639 shares of the real estate investment trust’s stock worth $3,435,000 after buying an additional 314 shares during the last quarter. D.A. Davidson & CO. boosted its stake in American Tower by 2.3% during the 3rd quarter. D.A. Davidson & CO. now owns 13,901 shares of the real estate investment trust’s stock valued at $2,020,000 after purchasing an additional 319 shares during the last quarter. Macguire Cheswick & Tuttle Investment Counsel LLC boosted its stake in American Tower by 1.9% during the 3rd quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 17,970 shares of the real estate investment trust’s stock valued at $2,611,000 after purchasing an additional 340 shares during the last quarter. Appleton Partners Inc. MA boosted its stake in American Tower by 0.6% during the 3rd quarter. Appleton Partners Inc. MA now owns 65,875 shares of the real estate investment trust’s stock valued at $9,572,000 after purchasing an additional 370 shares during the last quarter. Finally, Gofen & Glossberg LLC IL boosted its stake in American Tower by 1.0% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 36,845 shares of the real estate investment trust’s stock valued at $5,354,000 after purchasing an additional 371 shares during the last quarter. Institutional investors own 93.25% of the company’s stock.

In other news, EVP Olivier Puech sold 10,747 shares of the stock in a transaction on Wednesday, November 28th. The stock was sold at an average price of $161.87, for a total transaction of $1,739,616.89. Following the transaction, the executive vice president now directly owns 20,543 shares of the company’s stock, valued at approximately $3,325,295.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David E. Sharbutt sold 813 shares of the stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $160.88, for a total value of $130,795.44. Following the transaction, the director now directly owns 3,968 shares in the company, valued at $638,371.84. The disclosure for this sale can be found here. Insiders have sold a total of 338,360 shares of company stock worth $53,958,953 over the last three months. Insiders own 0.87% of the company’s stock.

AMT has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on American Tower to $173.00 and gave the company an “outperform” rating in a research note on Thursday, November 1st. Deutsche Bank downgraded American Tower from a “buy” rating to a “hold” rating and cut their target price for the company from $169.00 to $167.00 in a research note on Thursday, November 1st. They noted that the move was a valuation call. Bank of America set a $172.00 target price on American Tower and gave the company a “buy” rating in a research note on Wednesday, October 31st. Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, Wells Fargo & Co increased their target price on American Tower from $173.00 to $176.00 and gave the company an “outperform” rating in a research note on Friday, November 16th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $165.31.

NYSE AMT opened at $166.43 on Friday. The firm has a market cap of $73.84 billion, a PE ratio of 26.09, a PEG ratio of 1.62 and a beta of 0.62. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a 1-year low of $130.37 and a 1-year high of $168.58.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.02. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.76 billion. American Tower had a return on equity of 18.55% and a net margin of 17.07%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. As a group, analysts forecast that American Tower Corp will post 7.58 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 14th. Stockholders of record on Thursday, December 27th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.02%. This is a boost from American Tower’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Wednesday, December 26th. American Tower’s dividend payout ratio is presently 49.53%.

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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 170,000 communications sites.

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

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