Resolution Capital Ltd cut its holdings in American Tower Corp (NYSE:AMT) by 3.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 442,001 shares of the real estate investment trust’s stock after selling 15,170 shares during the period. American Tower makes up approximately 3.0% of Resolution Capital Ltd’s investment portfolio, making the stock its 14th largest position. Resolution Capital Ltd owned about 0.10% of American Tower worth $90,367,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Cable Hill Partners LLC grew its stake in shares of American Tower by 61.9% in the first quarter. Cable Hill Partners LLC now owns 136 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 52 shares in the last quarter. Reilly Financial Advisors LLC grew its stake in American Tower by 15.3% during the first quarter. Reilly Financial Advisors LLC now owns 406 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 54 shares in the last quarter. CX Institutional grew its stake in American Tower by 54.9% during the second quarter. CX Institutional now owns 158 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 56 shares in the last quarter. Webster Bank N. A. grew its stake in American Tower by 4.9% during the first quarter. Webster Bank N. A. now owns 1,247 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 58 shares in the last quarter. Finally, Resources Investment Advisors Inc. grew its stake in American Tower by 7.6% during the first quarter. Resources Investment Advisors Inc. now owns 820 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.

A number of equities research analysts have issued reports on AMT shares. Royal Bank of Canada increased their price objective on shares of Summit Industrial Income REIT from C$11.50 to C$12.50 and gave the stock a “sector perform” rating in a research note on Thursday, May 9th. Wells Fargo & Co increased their price objective on shares of Sempra Energy from $137.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Morgan Stanley increased their price objective on shares of United Technologies from $155.00 to $164.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. SunTrust Banks reiterated a “hold” rating on shares of Tripadvisor in a research note on Monday, May 6th. Finally, KeyCorp increased their price objective on shares of SBA Communications from $215.00 to $252.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. American Tower presently has an average rating of “Hold” and an average target price of $188.44.

In related news, CEO James D. Taiclet, Jr. sold 57,439 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $207.93, for a total value of $11,943,291.27. Following the completion of the transaction, the chief executive officer now owns 255,415 shares in the company, valued at approximately $53,108,440.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO James D. Taiclet, Jr. sold 57,438 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $201.40, for a total transaction of $11,568,013.20. Following the completion of the transaction, the chief executive officer now owns 255,414 shares of the company’s stock, valued at approximately $51,440,379.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 248,053 shares of company stock valued at $49,761,568. 0.75% of the stock is owned by company insiders.

Shares of AMT traded up $0.88 during mid-day trading on Monday, reaching $205.47. The company had a trading volume of 32,604 shares, compared to its average volume of 1,549,816. The business’s 50 day moving average price is $209.51. American Tower Corp has a 1-year low of $140.40 and a 1-year high of $218.79. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 4.31. The company has a market cap of $90.34 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 1.68 and a beta of 0.49.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.04. American Tower had a net margin of 17.95% and a return on equity of 22.61%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that American Tower Corp will post 7.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Wednesday, June 19th were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Tuesday, June 18th. This is a positive change from American Tower’s previous quarterly dividend of $0.90. American Tower’s dividend payout ratio (DPR) is 46.06%.

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.

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

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