American Tower Corporation (NYSE:AMT) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP cut its stake in shares of American Tower Corporation (NYSE:AMT) by 79.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,802 shares of the real estate investment trust’s stock after selling 14,926 shares during the quarter. GSA Capital Partners LLP’s holdings in American Tower were worth $827,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. North Capital Inc. acquired a new position in shares of American Tower during the first quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of American Tower during the first quarter worth about $31,000. Lowe Wealth Advisors LLC grew its position in shares of American Tower by 218.0% during the first quarter. Lowe Wealth Advisors LLC now owns 159 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 109 shares in the last quarter. Minot DeBlois Advisors LLC acquired a new position in shares of American Tower during the fourth quarter worth about $29,000. Finally, City Holding Co. acquired a new position in shares of American Tower during the first quarter worth about $39,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Scotiabank upped their price target on American Tower from $234.00 to $248.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 30th. Bank of America assumed coverage on American Tower in a report on Monday, May 19th. They issued a “buy” rating and a $255.00 price target for the company. HSBC downgraded American Tower from a “buy” rating to a “hold” rating and set a $235.00 price target for the company. in a report on Wednesday. Barclays upped their price target on American Tower from $223.00 to $246.00 and gave the company an “overweight” rating in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of American Tower in a report on Tuesday. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.88.

American Tower Price Performance

Shares of NYSE AMT opened at $212.18 on Friday. The company has a debt-to-equity ratio of 3.36, a current ratio of 0.95 and a quick ratio of 0.81. The stock has a fifty day moving average price of $218.73 and a 200 day moving average price of $210.32. American Tower Corporation has a 1-year low of $172.51 and a 1-year high of $243.56. The company has a market cap of $99.33 billion, a PE ratio of 77.16, a P/E/G ratio of 1.15 and a beta of 0.82.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.01. American Tower had a return on equity of 24.85% and a net margin of 12.60%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company earned $2.79 earnings per share. The company’s revenue for the quarter was down 9.4% on a year-over-year basis. Sell-side analysts forecast that American Tower Corporation will post 10.14 EPS for the current year.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Friday, June 13th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.80 annualized dividend and a dividend yield of 3.2%. American Tower’s dividend payout ratio (DPR) is currently 247.27%.

Insider Buying and Selling at American Tower

In related news, CEO Juan Font sold 720 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $208.33, for a total transaction of $149,997.60. Following the completion of the sale, the chief executive officer directly owned 23,425 shares of the company’s stock, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by corporate insiders.

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