American Tower Corporation $AMT Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP decreased its holdings in shares of American Tower Corporation (NYSE:AMT) by 31.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,484 shares of the real estate investment trust’s stock after selling 10,982 shares during the quarter. Stevens Capital Management LP’s holdings in American Tower were worth $4,516,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMT. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in American Tower by 3.0% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,192 shares of the real estate investment trust’s stock valued at $1,575,000 after buying an additional 241 shares during the period. Mendel Money Management acquired a new stake in shares of American Tower in the third quarter worth approximately $580,000. Clear Creek Financial Management LLC grew its holdings in American Tower by 19.9% in the third quarter. Clear Creek Financial Management LLC now owns 3,525 shares of the real estate investment trust’s stock valued at $678,000 after purchasing an additional 586 shares during the period. First National Bank of Omaha acquired a new position in American Tower during the third quarter worth approximately $3,119,000. Finally, Axxcess Wealth Management LLC raised its stake in American Tower by 2.8% during the third quarter. Axxcess Wealth Management LLC now owns 4,707 shares of the real estate investment trust’s stock worth $905,000 after purchasing an additional 126 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider directly owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

American Tower Trading Up 1.3%

Shares of AMT opened at $187.28 on Friday. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33. The stock’s 50-day moving average is $178.02 and its two-hundred day moving average is $186.37. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $87.67 billion, a PE ratio of 29.92, a P/E/G ratio of 0.77 and a beta of 0.93.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio is currently 108.63%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. Jefferies Financial Group lowered their price objective on shares of American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research note on Tuesday, December 16th. Raymond James Financial lowered their price target on American Tower from $231.00 to $229.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. BMO Capital Markets lowered American Tower from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $210.00 to $185.00 in a research note on Friday, January 9th. Mizuho reduced their price objective on American Tower from $217.00 to $189.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.79.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.