Northcape Capital Pty Ltd Has $3.19 Million Stock Position in American Tower Co. (NYSE:AMT)

Northcape Capital Pty Ltd cut its position in American Tower Co. (NYSE:AMT) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,782 shares of the real estate investment trust’s stock after selling 1,980 shares during the period. American Tower accounts for approximately 0.4% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 18th biggest holding. Northcape Capital Pty Ltd’s holdings in American Tower were worth $3,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMT. BCK Partners Inc. purchased a new stake in American Tower during the 1st quarter worth about $2,892,000. Fairfield Bush & CO. increased its holdings in American Tower by 138.9% during the 1st quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock worth $711,000 after acquiring an additional 1,645 shares during the period. Cetera Investment Advisers lifted its stake in American Tower by 5.7% in the 1st quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock worth $3,621,000 after purchasing an additional 771 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of American Tower by 33.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock valued at $757,000 after purchasing an additional 756 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its holdings in shares of American Tower by 1.4% in the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock worth $38,367,000 after purchasing an additional 2,071 shares during the period. 92.69% of the stock is owned by institutional investors.

Insider Activity

In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the sale, the director now owns 18,545 shares in the company, valued at $3,532,080.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at $12,953,352.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Pamela D. A. Reeve sold 5,054 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

American Tower Trading Down 0.4 %

Shares of AMT traded down $0.80 during trading hours on Thursday, reaching $196.58. 531,770 shares of the company traded hands, compared to its average volume of 2,309,477. American Tower Co. has a 12 month low of $154.58 and a 12 month high of $219.10. The company has a market capitalization of $91.68 billion, a price-to-earnings ratio of 62.14, a price-to-earnings-growth ratio of 1.34 and a beta of 0.68. The company’s fifty day moving average price is $196.36 and its two-hundred day moving average price is $192.05. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.74 billion. American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $2.34 EPS. Equities research analysts predict that American Tower Co. will post 10.08 earnings per share for the current fiscal year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower’s dividend payout ratio is currently 213.84%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets dropped their target price on American Tower from $235.00 to $228.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Barclays lifted their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 5th. Finally, HSBC assumed coverage on shares of American Tower in a research note on Thursday, December 14th. They issued a “buy” rating and a $245.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $217.55.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.