GSI Capital Advisors LLC Cuts Holdings in American Tower Co. (NYSE:AMT)

GSI Capital Advisors LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,064 shares of the real estate investment trust’s stock after selling 69 shares during the period. GSI Capital Advisors LLC’s holdings in American Tower were worth $1,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Meeder Advisory Services Inc. raised its position in shares of American Tower by 3.9% in the fourth quarter. Meeder Advisory Services Inc. now owns 6,622 shares of the real estate investment trust’s stock valued at $1,215,000 after buying an additional 251 shares during the last quarter. Headlands Technologies LLC raised its stake in American Tower by 8.6% during the fourth quarter. Headlands Technologies LLC now owns 3,188 shares of the real estate investment trust’s stock worth $585,000 after purchasing an additional 252 shares during the period. Geode Capital Management LLC boosted its holdings in American Tower by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 11,342,805 shares of the real estate investment trust’s stock valued at $2,074,956,000 after purchasing an additional 129,192 shares during the last quarter. Diametric Capital LP purchased a new stake in shares of American Tower in the 4th quarter valued at approximately $348,000. Finally, Tradewinds LLC. acquired a new stake in shares of American Tower during the 4th quarter worth approximately $254,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.8 %

Shares of NYSE AMT opened at $219.44 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a market capitalization of $102.58 billion, a price-to-earnings ratio of 92.59, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. The business has a 50-day moving average of $200.03 and a two-hundred day moving average of $204.07.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the company earned $2.29 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts forecast that American Tower Co. will post 10.14 earnings per share for the current fiscal year.

American Tower Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be paid a $1.70 dividend. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.10%. This is a boost from American Tower’s previous quarterly dividend of $1.62. American Tower’s payout ratio is currently 141.37%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several analyst reports. Citigroup increased their price objective on American Tower from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Scotiabank lowered their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets increased their price objective on shares of American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $232.07.

American Tower Company 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.