Retirement Systems of Alabama lowered its holdings in shares of American Tower Corp (NYSE:AMT) by 5.5% in the 4th quarter, Holdings Channel reports. The firm owned 428,029 shares of the real estate investment trust’s stock after selling 24,988 shares during the quarter. Retirement Systems of Alabama’s holdings in American Tower were worth $61,067,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMT. Dimensional Fund Advisors LP lifted its position in American Tower by 56.3% during the third 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 purchasing an additional 904,325 shares during the last quarter. Atlantic Trust Group LLC lifted its holdings in shares of American Tower by 89.8% in the 3rd quarter. Atlantic Trust Group LLC now owns 1,896,026 shares of the real estate investment trust’s stock worth $259,148,000 after acquiring an additional 897,138 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of American Tower by 783.8% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 677,573 shares of the real estate investment trust’s stock worth $92,611,000 after acquiring an additional 600,910 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of American Tower by 26.1% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,790,646 shares of the real estate investment trust’s stock worth $380,074,000 after acquiring an additional 577,069 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of American Tower by 5.4% in the 3rd quarter. Janus Henderson Group PLC now owns 7,868,533 shares of the real estate investment trust’s stock worth $1,075,458,000 after acquiring an additional 400,117 shares during the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.

Shares of American Tower Corp (NYSE:AMT) opened at $136.31 on Wednesday. American Tower Corp has a twelve month low of $105.82 and a twelve month high of $155.28. The firm has a market cap of $58,423.05, a PE ratio of 21.09, a P/E/G ratio of 1.29 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Thursday, December 28th were issued a dividend of $0.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $2.80 dividend on an annualized basis and a yield of 2.05%. American Tower’s dividend payout ratio (DPR) is presently 106.46%.

American Tower declared that its board has approved a share repurchase plan on Thursday, December 7th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Several equities research analysts have recently issued reports on the stock. Jefferies Group raised their target price on shares of American Tower from $144.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. KeyCorp restated an “overweight” rating and issued a $177.00 target price (up previously from $156.00) on shares of American Tower in a report on Monday, November 27th. Argus raised their target price on shares of American Tower to $170.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Macquarie raised their target price on shares of American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. Finally, Morgan Stanley raised their target price on shares of American Tower from $155.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $158.60.

In related news, Director Samme L. Thompson sold 5,000 shares of American Tower stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $143.16, for a total transaction of $715,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David E. Sharbutt sold 1,584 shares of American Tower stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $144.44, for a total transaction of $228,792.96. Following the sale, the director now owns 4,861 shares of the company’s stock, valued at approximately $702,122.84. The disclosure for this sale can be found here. Insiders have sold a total of 41,251 shares of company stock valued at $5,885,334 in the last quarter. 0.86% of the stock is currently owned by company insiders.

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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.

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

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