Ninepoint Partners LP lessened its holdings in shares of American Tower Corp (NYSE:AMT) by 14.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,324 shares of the real estate investment trust’s stock after selling 575 shares during the period. American Tower accounts for about 0.2% of Ninepoint Partners LP’s portfolio, making the stock its 23rd largest position. Ninepoint Partners LP’s holdings in American Tower were worth $764,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Country Trust Bank lifted its stake in shares of American Tower by 289.3% during the fourth quarter. Country Trust Bank now owns 109 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 81 shares during the period. Northwest Investment Counselors LLC acquired a new position in American Tower in the third quarter valued at about $25,000. Marquette Asset Management LLC acquired a new position in American Tower in the third quarter valued at about $33,000. NewSquare Capital LLC lifted its stake in American Tower by 192.3% in the second quarter. NewSquare Capital LLC now owns 152 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 100 shares during the period. Finally, Allred Capital Management LLC acquired a new position in American Tower in the fourth quarter valued at about $39,000. Institutional investors own 91.63% of the company’s stock.

Shares of American Tower stock traded down $0.31 during trading hours on Friday, hitting $237.52. The company’s stock had a trading volume of 1,284,696 shares, compared to its average volume of 1,305,861. American Tower Corp has a 12 month low of $164.11 and a 12 month high of $242.00. The stock has a 50 day moving average of $225.23 and a 200 day moving average of $219.96. The company has a market capitalization of $105.34 billion, a PE ratio of 66.16, a price-to-earnings-growth ratio of 1.51 and a beta of 0.41. The company has a debt-to-equity ratio of 4.40, a current ratio of 0.53 and a quick ratio of 0.53.

American Tower (NYSE:AMT) last announced its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.17. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. American Tower had a return on equity of 27.12% and a net margin of 20.58%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.85 earnings per share. Equities analysts expect that American Tower Corp will post 7.64 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were issued a dividend of $1.01 per share. The ex-dividend date was Thursday, December 26th. This is an increase from American Tower’s previous quarterly dividend of $0.95. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. American Tower’s dividend payout ratio (DPR) is presently 50.56%.

Several equities analysts have weighed in on the company. KeyCorp increased their target price on American Tower from $242.00 to $254.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Cowen increased their target price on American Tower from $238.00 to $260.00 and gave the company an “in-line” rating in a research note on Friday, November 1st. ValuEngine lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley reissued a “hold” rating and issued a $218.00 target price (up previously from $216.00) on shares of American Tower in a research note on Friday, November 22nd. Finally, Goldman Sachs Group raised American Tower from a “neutral” rating to a “buy” rating and increased their target price for the company from $204.00 to $270.00 in a research note on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. American Tower presently has an average rating of “Hold” and a consensus price target of $224.36.

In related news, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $206.78, for a total transaction of $206,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven O. Vondran sold 1,261 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $229.68, for a total value of $289,626.48. Following the transaction, the executive vice president now owns 28,705 shares of the company’s stock, valued at $6,592,964.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,574 shares of company stock valued at $1,250,626. 0.75% of the stock is owned by corporate insiders.

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 171,000 communications sites.

Further Reading: Correction

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

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