Vanderbilt University Sells 2,134 Shares of American Tower Co. (NYSE:AMT)

Vanderbilt University reduced its stake in shares of American Tower Co. (NYSE:AMTFree Report) by 23.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,143 shares of the real estate investment trust’s stock after selling 2,134 shares during the quarter. American Tower accounts for approximately 0.4% of Vanderbilt University’s portfolio, making the stock its 21st largest holding. Vanderbilt University’s holdings in American Tower were worth $1,542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMT. BCK Partners Inc. bought a new position in shares of American Tower during the first quarter valued at about $2,892,000. Fairfield Bush & CO. grew its stake in shares of American Tower by 138.9% during the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 1,645 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of American Tower by 5.7% during the first quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock valued at $3,621,000 after buying an additional 771 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of American Tower by 33.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 756 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in shares of American Tower by 1.4% during the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock worth $38,367,000 after purchasing an additional 2,071 shares during the period. 92.69% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 11,510 shares of American Tower stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. HSBC began coverage on shares of American Tower in a report on Thursday, December 14th. They set a “buy” rating and a $245.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. BMO Capital Markets dropped their target price on shares of American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Finally, Barclays increased their target price on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.90.

Check Out Our Latest Report on AMT

American Tower Stock Down 0.6 %

Shares of NYSE AMT traded down $1.07 on Wednesday, reaching $191.11. 642,441 shares of the company’s stock traded hands, compared to its average volume of 2,307,586. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The business’s 50 day simple moving average is $195.53 and its two-hundred day simple moving average is $192.61. The company has a market cap of $89.12 billion, a price-to-earnings ratio of 60.43, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMTGet Free Report) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the prior year, the business posted $2.34 EPS. American Tower’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts forecast that American Tower Co. will post 10.08 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Thursday, April 11th. American Tower’s dividend payout ratio (DPR) is presently 213.84%.

American Tower Profile

(Free Report)

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 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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

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