American Tower Corp (AMT) Position Cut by Private Advisor Group LLC

Private Advisor Group LLC reduced its holdings in shares of American Tower Corp (NYSE:AMT) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,779 shares of the real estate investment trust’s stock after selling 2,022 shares during the period. Private Advisor Group LLC’s holdings in American Tower were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in AMT. Dimensional Fund Advisors LP increased its position in American Tower by 56.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,510,444 shares of the real estate investment trust’s stock valued at $343,124,000 after buying an additional 904,325 shares in the last quarter. Atlantic Trust Group LLC increased its position in American Tower by 89.8% during the 3rd quarter. Atlantic Trust Group LLC now owns 1,896,026 shares of the real estate investment trust’s stock valued at $259,148,000 after buying an additional 897,138 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in American Tower by 783.8% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 677,573 shares of the real estate investment trust’s stock valued at $92,611,000 after buying an additional 600,910 shares in the last quarter. Commonwealth Bank of Australia increased its position in American Tower by 26.1% during the 3rd quarter. Commonwealth Bank of Australia now owns 2,790,646 shares of the real estate investment trust’s stock valued at $380,074,000 after buying an additional 577,069 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in American Tower by 5.4% during the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock valued at $1,075,458,000 after buying an additional 400,117 shares in the last quarter. 91.56% of the stock is currently owned by institutional investors.

In other news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $142.52, for a total value of $4,940,740.84. Following the sale, the chairman now owns 305,374 shares in the company, valued at $43,521,902.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Samme L. Thompson sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total value of $715,800.00. The disclosure for this sale can be found here. Insiders sold 41,251 shares of company stock worth $5,885,334 in the last 90 days. Company insiders own 0.86% of the company’s stock.

Shares of American Tower Corp (AMT) opened at $140.02 on Friday. American Tower Corp has a one year low of $106.85 and a one year high of $155.28. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $58,418.76, a PE ratio of 21.09, a PEG ratio of 1.29 and a beta of 0.77.

American Tower announced that its Board of Directors has approved a share repurchase program on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

AMT has been the topic of a number of research reports. Macquarie increased their price objective on American Tower from $162.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. KeyCorp set a $156.00 price objective on American Tower and gave the company an “overweight” rating in a report on Wednesday, November 1st. Argus increased their price objective on American Tower to $170.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Cowen reissued a “buy” rating on shares of American Tower in a report on Tuesday, October 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $172.00 price objective on shares of American Tower in a report on Wednesday, December 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $158.60.

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American Tower Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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