Campbell & CO Investment Adviser LLC Decreases Stock Position in American Tower Corp (NYSE:AMT)

Campbell & CO Investment Adviser LLC cut its stake in American Tower Corp (NYSE:AMT) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,769 shares of the real estate investment trust’s stock after selling 868 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in American Tower were worth $391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of AMT. TrinityPoint Wealth LLC boosted its holdings in shares of American Tower by 1.4% in the second quarter. TrinityPoint Wealth LLC now owns 3,479 shares of the real estate investment trust’s stock worth $712,000 after acquiring an additional 49 shares during the period. Biegel & Waller LLC raised its position in shares of American Tower by 2.9% in the third quarter. Biegel & Waller LLC now owns 1,718 shares of the real estate investment trust’s stock worth $380,000 after buying an additional 49 shares in the last quarter. Hall Laurie J Trustee raised its position in shares of American Tower by 13.3% in the second quarter. Hall Laurie J Trustee now owns 425 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 50 shares in the last quarter. Knuff & Co LLC raised its position in shares of American Tower by 0.3% in the second quarter. Knuff & Co LLC now owns 18,390 shares of the real estate investment trust’s stock worth $3,760,000 after buying an additional 50 shares in the last quarter. Finally, GYL Financial Synergies LLC raised its position in shares of American Tower by 4.5% in the second quarter. GYL Financial Synergies LLC now owns 1,167 shares of the real estate investment trust’s stock worth $239,000 after buying an additional 50 shares in the last quarter. 92.54% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Edmund Disanto sold 63,686 shares of American Tower stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $221.06, for a total transaction of $14,078,427.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pamela D. A. Reeve sold 4,167 shares of American Tower stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $240.80, for a total transaction of $1,003,413.60. Following the transaction, the director now owns 19,139 shares of the company’s stock, valued at $4,608,671.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,524 shares of company stock worth $31,726,127. Insiders own 0.75% of the company’s stock.

A number of equities research analysts recently issued reports on AMT shares. Morgan Stanley increased their price objective on American Tower from $201.00 to $216.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective on the stock in a research report on Tuesday, August 20th. Cowen raised their price target on American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. KeyCorp set a $242.00 price target on American Tower and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. American Tower presently has an average rating of “Hold” and a consensus target price of $215.79.

Shares of NYSE AMT traded up $0.18 during trading hours on Friday, hitting $205.87. The company’s stock had a trading volume of 1,799,862 shares, compared to its average volume of 1,770,815. The business has a 50-day simple moving average of $220.99 and a 200-day simple moving average of $213.42. The company has a debt-to-equity ratio of 4.40, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $91.20 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 1.65 and a beta of 0.43. American Tower Corp has a 12 month low of $150.66 and a 12 month high of $242.00.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.17. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.88 billion. American Tower had a return on equity of 27.12% and a net margin of 20.58%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.85 EPS. On average, equities research analysts forecast that American Tower Corp will post 7.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Friday, September 27th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 1.85%. This is a boost from American Tower’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Thursday, September 26th. American Tower’s payout ratio is presently 47.56%.

About American Tower

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 171,000 communications sites.

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

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