International Assets Investment Management LLC Sells 453 Shares of American Tower Co. (NYSE:AMT)

International Assets Investment Management LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 11.5% during the first quarter, HoldingsChannel.com reports. The fund owned 3,481 shares of the real estate investment trust’s stock after selling 453 shares during the period. International Assets Investment Management LLC’s holdings in American Tower were worth $672,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alera Investment Advisors LLC grew its stake in American Tower by 1.3% during the fourth quarter. Alera Investment Advisors LLC now owns 4,105 shares of the real estate investment trust’s stock worth $886,000 after buying an additional 51 shares during the last quarter. Allstate Corp lifted its position in shares of American Tower by 3.1% during the fourth quarter. Allstate Corp now owns 1,750 shares of the real estate investment trust’s stock worth $378,000 after purchasing an additional 53 shares in the last quarter. First Business Financial Services Inc. lifted its position in shares of American Tower by 1.3% during the third quarter. First Business Financial Services Inc. now owns 4,290 shares of the real estate investment trust’s stock worth $705,000 after purchasing an additional 55 shares in the last quarter. Augustine Asset Management Inc. lifted its position in shares of American Tower by 0.8% during the fourth quarter. Augustine Asset Management Inc. now owns 7,092 shares of the real estate investment trust’s stock worth $1,531,000 after purchasing an additional 56 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of American Tower by 13.9% during the fourth quarter. McIlrath & Eck LLC now owns 459 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of several analyst reports. BMO Capital Markets cut their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays lowered their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. JPMorgan Chase & Co. lowered their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Mizuho started coverage on shares of American Tower in a research report on Monday, April 8th. They set a “neutral” rating and a $205.00 price objective for the company. Finally, Scotiabank decreased their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.91.

American Tower Price Performance

Shares of American Tower stock opened at $194.85 on Monday. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $219.10. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 3.39. The company has a 50-day simple moving average of $186.08 and a two-hundred day simple moving average of $195.43. The stock has a market capitalization of $90.99 billion, a price-to-earnings ratio of 44.08, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). American Tower had a return on equity of 18.45% and a net margin of 18.42%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm earned $2.54 EPS. American Tower’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts forecast that American Tower Co. will post 10.03 EPS for the current year.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 14th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, June 14th. American Tower’s dividend payout ratio is currently 146.61%.

Insider Buying and Selling at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert D. Hormats sold 700 shares of American Tower stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.50, for a total transaction of $128,450.00. Following the sale, the director now directly owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

American Tower Profile

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.