New York State Teachers Retirement System Sells 18,347 Shares of American Tower Co. (NYSE:AMT)

New York State Teachers Retirement System lowered its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 463,011 shares of the real estate investment trust's stock after selling 18,347 shares during the quarter. New York State Teachers Retirement System owned 0.10% of American Tower worth $99,955,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AMT. Cohen & Steers Inc. raised its position in American Tower by 44.2% during the second quarter. Cohen & Steers Inc. now owns 9,842,980 shares of the real estate investment trust's stock worth $1,908,844,000 after acquiring an additional 3,016,160 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in American Tower by 57.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust's stock worth $7,718,000 after purchasing an additional 13,074 shares during the period. Victory Capital Management Inc. lifted its position in American Tower by 0.5% during the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust's stock worth $29,155,000 after purchasing an additional 806 shares during the period. PDS Planning Inc lifted its holdings in shares of American Tower by 16.1% in the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust's stock worth $299,000 after acquiring an additional 253 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC lifted its holdings in shares of American Tower by 3.8% in the third quarter. Cyndeo Wealth Partners LLC now owns 9,908 shares of the real estate investment trust's stock worth $1,629,000 after acquiring an additional 365 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Stock Performance

Shares of AMT stock traded down $0.13 during mid-day trading on Friday, reaching $190.17. The stock had a trading volume of 2,538,725 shares, compared to its average volume of 2,066,702. The firm has a market cap of $88.69 billion, a price-to-earnings ratio of 59.80, a PEG ratio of 1.32 and a beta of 0.67. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The business's fifty day moving average is $195.10 and its 200-day moving average is $192.89. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.29.

American Tower (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing the consensus estimate of $2.10 by ($1.16). American Tower had a net margin of 13.31% and a return on equity of 12.80%. The firm had revenue of $2.79 billion during the quarter, compared to analysts' expectations of $2.74 billion. During the same quarter last year, the business earned $2.34 EPS. The business's revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that American Tower Co. will post 10.08 earnings per share for the current year.

American Tower Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, April 11th. American Tower's dividend payout ratio (DPR) is 203.77%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AMT shares. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their price objective on American Tower from $236.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 28th. Barclays raised their price objective on American Tower from $224.00 to $234.00 and gave the company an "overweight" rating in a research note on Tuesday, March 5th. BMO Capital Markets decreased their price objective on American Tower from $235.00 to $228.00 and set an "outperform" rating for the company in a report on Wednesday, February 28th. Finally, HSBC started coverage on American Tower in a report on Thursday, December 14th. They set a "buy" rating and a $245.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $215.90.

Insiders Place Their Bets

In related news, Director Pamela D. A. Reeve sold 5,054 shares of the business's stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Pamela D. A. Reeve sold 5,054 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was 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 of the company's stock, valued at approximately $3,532,080.70. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The disclosure for this sale can be found here. 0.24% of the stock is owned by company 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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.