American Tower Corp (AMT) Holdings Lifted by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its holdings in shares of American Tower Corp (NYSE:AMT) by 1,082.1% during the 4th quarter, HoldingsChannel reports. The fund owned 8,641 shares of the real estate investment trust’s stock after purchasing an additional 7,910 shares during the period. Tower Research Capital LLC TRC’s holdings in American Tower were worth $1,233,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AMT. Dimensional Fund Advisors LP lifted its holdings 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 worth $343,124,000 after acquiring an additional 904,325 shares in the last quarter. Atlantic Trust Group LLC lifted its holdings in American Tower by 89.8% during the third 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 in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in American Tower by 783.8% during the third 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 in the last quarter. Commonwealth Bank of Australia lifted its holdings in American Tower by 26.1% during the third 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 in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in American Tower by 5.4% during the third 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 in the last quarter. Hedge funds and other institutional investors own 91.56% of the company’s stock.

Shares of American Tower Corp (NYSE:AMT) opened at $140.02 on Friday. 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 stock has a market capitalization of $60,048.42, a PE ratio of 53.24, a P/E/G ratio of 1.33 and a beta of 0.77. American Tower Corp has a 12-month low of $107.66 and a 12-month high of $155.28.

American Tower announced that its board has initiated a share repurchase plan 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. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Several analysts have issued reports on the company. Zacks Investment Research downgraded American Tower from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Oppenheimer lifted their price target on American Tower from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. Morgan Stanley reissued an “overweight” rating and issued a $172.00 price target on shares of American Tower in a research note on Wednesday, December 13th. ValuEngine downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, KeyCorp reissued an “overweight” rating and issued a $177.00 price target (up previously from $156.00) on shares of American Tower in a research note on Monday, November 27th. 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. American Tower currently has an average rating of “Buy” and a consensus 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 stock was sold at an average price of $143.16, for a total value of $715,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of American Tower stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $142.52, for a total value of $4,940,740.84. Following the completion of the sale, the chairman now directly owns 305,374 shares in the company, valued at approximately $43,521,902.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,251 shares of company stock worth $5,885,334. 0.86% of the stock is owned by company insiders.

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About American Tower

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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