Achmea Investment Management B.V. reduced its holdings in shares of American Tower Corp (NYSE:AMT) by 91.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,161 shares of the real estate investment trust’s stock after selling 22,115 shares during the period. Achmea Investment Management B.V.’s holdings in American Tower were worth $312,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in American Tower by 10.0% during the second quarter. Advisors Asset Management Inc. now owns 150,440 shares of the real estate investment trust’s stock valued at $21,689,000 after buying an additional 13,702 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in American Tower by 2.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 88,277 shares of the real estate investment trust’s stock valued at $12,727,000 after buying an additional 1,981 shares during the last quarter. Adelante Capital Management LLC increased its holdings in American Tower by 7.8% during the second quarter. Adelante Capital Management LLC now owns 271,249 shares of the real estate investment trust’s stock valued at $39,106,000 after buying an additional 19,579 shares during the last quarter. Hermes Investment Management Ltd. increased its holdings in American Tower by 2.6% during the second quarter. Hermes Investment Management Ltd. now owns 428,455 shares of the real estate investment trust’s stock valued at $61,770,000 after buying an additional 10,865 shares during the last quarter. Finally, Bartlett & Co. LLC increased its holdings in American Tower by 1.3% during the third quarter. Bartlett & Co. LLC now owns 135,242 shares of the real estate investment trust’s stock valued at $19,651,000 after buying an additional 1,720 shares during the last quarter. 93.41% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE AMT opened at $162.13 on Friday. The company has a debt-to-equity ratio of 3.11, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $70.93 billion, a PE ratio of 25.41, a PEG ratio of 1.55 and a beta of 0.59. American Tower Corp has a 1 year low of $130.37 and a 1 year high of $163.58.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.02. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.76 billion. American Tower had a net margin of 17.07% and a return on equity of 18.55%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 earnings per share. As a group, research analysts predict that American Tower Corp will post 7.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Stockholders of record on Friday, September 28th were paid a $0.79 dividend. The ex-dividend date was Thursday, September 27th. This is a boost from American Tower’s previous quarterly dividend of $0.77. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.95%. American Tower’s dividend payout ratio is 49.53%.

In related news, EVP Edmund Disanto sold 13,000 shares of the company’s stock in a transaction on Friday, September 7th. The shares were sold at an average price of $146.78, for a total transaction of $1,908,140.00. Following the completion of the transaction, the executive vice president now owns 160,021 shares in the company, valued at $23,487,882.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven C. Marshall sold 163,166 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $156.86, for a total transaction of $25,594,218.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,715 shares of company stock valued at $36,824,161. 0.87% of the stock is owned by company insiders.

A number of analysts have commented on AMT shares. Royal Bank of Canada upped their target price on shares of American Tower to $173.00 and gave the company an “outperform” rating in a report on Thursday, November 1st. Zacks Investment Research cut shares of American Tower from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Bank of America set a $172.00 target price on shares of American Tower and gave the company a “buy” rating in a report on Wednesday, October 31st. Deutsche Bank cut shares of American Tower from a “buy” rating to a “hold” rating and reduced their target price for the company from $169.00 to $167.00 in a report on Thursday, November 1st. They noted that the move was a valuation call. Finally, ValuEngine raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. American Tower currently has a consensus rating of “Buy” and a consensus price target of $164.20.

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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.

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

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