Barr E S & Co. trimmed its position in American Tower Corp (NYSE:AMT) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,943 shares of the real estate investment trust’s stock after selling 491 shares during the quarter. Barr E S & Co.’s holdings in American Tower were worth $3,479,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. MML Investors Services LLC increased its stake in American Tower by 64.9% in the third quarter. MML Investors Services LLC now owns 12,606 shares of the real estate investment trust’s stock valued at $1,832,000 after acquiring an additional 4,962 shares during the last quarter. Highstreet Asset Management Inc. grew its stake in shares of American Tower by 43.3% during the third quarter. Highstreet Asset Management Inc. now owns 90,345 shares of the real estate investment trust’s stock worth $13,127,000 after buying an additional 27,301 shares during the last quarter. Capital Analysts LLC grew its stake in shares of American Tower by 2.3% during the third quarter. Capital Analysts LLC now owns 32,881 shares of the real estate investment trust’s stock worth $4,778,000 after buying an additional 729 shares during the last quarter. Wetherby Asset Management Inc. grew its stake in shares of American Tower by 13.1% during the third quarter. Wetherby Asset Management Inc. now owns 10,619 shares of the real estate investment trust’s stock worth $1,543,000 after buying an additional 1,231 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of American Tower by 6.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 66,049 shares of the real estate investment trust’s stock worth $9,597,000 after buying an additional 4,020 shares during the last quarter. 93.41% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of American Tower from $167.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Guggenheim reaffirmed a “hold” rating and set a $160.00 target price on shares of American Tower in a research note on Tuesday, August 7th. Argus boosted their target price on shares of American Tower from $154.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Cowen reaffirmed a “buy” rating and set a $161.00 target price on shares of American Tower in a research note on Wednesday, August 1st. Finally, Deutsche Bank boosted their target price on shares of American Tower from $155.00 to $169.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. American Tower presently has a consensus rating of “Buy” and an average price target of $164.20.

Shares of NYSE:AMT opened at $161.31 on Wednesday. The firm has a market cap of $70.54 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 1.55 and a beta of 0.59. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a 52 week low of $130.37 and a 52 week high of $161.96.

American Tower (NYSE:AMT) last issued its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.02. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.76 billion. American Tower had a net margin of 17.07% and a return on equity of 18.55%. American Tower’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. Equities analysts anticipate that American Tower Corp will post 7.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Thursday, September 27th. This is a positive change from American Tower’s previous quarterly dividend of $0.77. American Tower’s payout ratio is 49.53%.

In other news, Director David E. Sharbutt sold 3,590 shares of American Tower stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $157.06, for a total transaction of $563,845.40. Following the transaction, the director now owns 8,371 shares in the company, valued at $1,314,749.26. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Edmund Disanto sold 13,000 shares of American Tower stock in a transaction on Friday, September 7th. The stock was sold at an average price of $146.78, for a total transaction of $1,908,140.00. Following the transaction, the executive vice president now owns 160,021 shares in the company, valued at approximately $23,487,882.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,715 shares of company stock worth $36,824,161. 0.87% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2018/11/14/american-tower-corp-amt-position-cut-by-barr-e-s-co.html.

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 approximately 170,000 communications sites.

Featured Article: What is a stock split?

Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Corp (NYSE:AMT).

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

Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.