American Tower Co. (NYSE:AMT) Shares Sold by RWC Asset Management LLP

RWC Asset Management LLP cut its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 250,598 shares of the real estate investment trust's stock after selling 14,302 shares during the quarter. American Tower accounts for 3.3% of RWC Asset Management LLP's portfolio, making the stock its 6th largest position. RWC Asset Management LLP owned about 0.05% of American Tower worth $54,099,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Thompson Investment Management Inc. acquired a new position in shares of American Tower during the 4th quarter valued at $29,000. McClarren Financial Advisors Inc. acquired a new position in shares of American Tower in the 3rd quarter worth $27,000. Emerald Advisers LLC acquired a new position in shares of American Tower in the 3rd quarter worth $29,000. Valley National Advisers Inc. grew its holdings in shares of American Tower by 200.0% in the 4th quarter. Valley National Advisers Inc. now owns 177 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 118 shares during the last quarter. Finally, Oakworth Capital Inc. grew its holdings in shares of American Tower by 157.9% in the 4th quarter. Oakworth Capital Inc. now owns 196 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 120 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Down 0.7 %

AMT traded down $1.21 during trading on Friday, reaching $171.69. 1,701,397 shares of the stock traded hands, compared to its average volume of 2,597,943. The stock has a market cap of $80.07 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. American Tower Co. has a fifty-two week low of $154.58 and a fifty-two week high of $219.10. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.69. The stock's 50-day simple moving average is $190.29 and its two-hundred day simple moving average is $194.22.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share (EPS) 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 analyst estimates of $2.74 billion. American Tower had a net margin of 13.31% and a return on equity of 12.80%. American Tower's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.34 EPS. As a group, equities research analysts expect that American Tower Co. will post 9.94 EPS for the current year.

American Tower Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.77%. American Tower's payout ratio is 203.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AMT shares. Barclays lifted their target price on American Tower from $224.00 to $234.00 and gave the stock an "overweight" rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. decreased their target price on American Tower from $236.00 to $230.00 and set an "overweight" rating on the stock in a report on Wednesday, February 28th. Mizuho started coverage on American Tower in a research report on Monday, April 8th. They issued a "neutral" rating and a $205.00 target price for the company. BMO Capital Markets decreased 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. Finally, Morgan Stanley raised their target price on American Tower from $183.00 to $196.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $217.36.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 11,510 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total transaction of $2,367,722.10. Following the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the SEC, which is available through this link. In other American Tower news, Director Pamela D. A. Reeve sold 5,054 shares of the firm'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 transaction, the director now directly owns 18,545 shares in the company, valued at $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 firm's stock in a transaction dated Wednesday, March 6th. The shares were 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 owns 62,969 shares in the company, valued at $12,953,352.99. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

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.