American Tower Corporation $AMT Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP trimmed its holdings in American Tower Corporation (NYSE:AMT) by 52.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,190 shares of the real estate investment trust’s stock after selling 5,705 shares during the quarter. GSA Capital Partners LLP’s holdings in American Tower were worth $998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the second quarter worth about $31,000. Abound Wealth Management raised its stake in American Tower by 137.3% during the 3rd quarter. Abound Wealth Management now owns 140 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. VSM Wealth Advisory LLC lifted its position in American Tower by 136.4% during the 2nd quarter. VSM Wealth Advisory LLC now owns 156 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 90 shares during the period. Root Financial Partners LLC purchased a new position in shares of American Tower in the 3rd quarter valued at approximately $32,000. Finally, Westside Investment Management Inc. grew its stake in shares of American Tower by 103.6% in the 3rd quarter. Westside Investment Management Inc. now owns 169 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 86 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

American Tower Trading Down 1.0%

Shares of AMT opened at $184.74 on Friday. The company has a debt-to-equity ratio of 3.24, a current ratio of 0.89 and a quick ratio of 0.89. American Tower Corporation has a 1-year low of $166.88 and a 1-year high of $234.33. The stock has a market cap of $86.49 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 0.78 and a beta of 0.93. The firm has a 50 day simple moving average of $177.89 and a 200-day simple moving average of $186.55.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, December 29th were given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio (DPR) is currently 108.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMT shares. Wells Fargo & Company cut their price objective on shares of American Tower from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, October 29th. Mizuho reduced their price target on American Tower from $217.00 to $189.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Argus set a $210.00 price objective on American Tower in a report on Thursday, October 30th. Jefferies Financial Group cut their price objective on American Tower from $226.00 to $202.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Finally, HSBC decreased their target price on shares of American Tower from $235.00 to $205.00 in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $218.79.

American Tower Company Profile

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.