Sei Investments Co. Trims Position in American Tower Co. (NYSE:AMT)

Sei Investments Co. trimmed its position in American Tower Co. (NYSE:AMT) by 13.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 976,051 shares of the real estate investment trust’s stock after selling 147,472 shares during the quarter. Sei Investments Co. owned approximately 0.21% of American Tower worth $189,725,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMT. Vanguard Group Inc. grew its position in shares of American Tower by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 61,991,053 shares of the real estate investment trust’s stock valued at $12,248,812,000 after purchasing an additional 965,938 shares in the last quarter. Cohen & Steers Inc. increased its stake in American Tower by 3.7% in the 4th quarter. Cohen & Steers Inc. now owns 16,440,715 shares of the real estate investment trust’s stock worth $3,549,366,000 after acquiring an additional 583,892 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of American Tower by 21.9% in the 4th quarter. Wellington Management Group LLP now owns 15,823,622 shares of the real estate investment trust’s stock valued at $3,416,004,000 after acquiring an additional 2,839,570 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of American Tower by 36.2% during the 1st quarter. Principal Financial Group Inc. now owns 8,794,776 shares of the real estate investment trust’s stock valued at $1,737,760,000 after acquiring an additional 2,336,501 shares during the last quarter. Finally, Edgewood Management LLC boosted its position in shares of American Tower by 46.2% during the 4th quarter. Edgewood Management LLC now owns 4,985,879 shares of the real estate investment trust’s stock valued at $1,076,352,000 after acquiring an additional 1,576,683 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Up 1.2 %

AMT opened at $235.16 on Friday. American Tower Co. has a 52 week low of $154.58 and a 52 week high of $243.56. The company has a market capitalization of $109.81 billion, a P/E ratio of 53.20, a PEG ratio of 1.60 and a beta of 0.83. The stock’s fifty day moving average is $224.57 and its two-hundred day moving average is $202.44. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.42.

American Tower (NYSE:AMT) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.52). The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.82 billion. American Tower had a return on equity of 23.06% and a net margin of 21.95%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $2.46 EPS. Analysts forecast that American Tower Co. will post 10.13 earnings per share for the current year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Wednesday, October 9th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 2.76%. American Tower’s dividend payout ratio (DPR) is 146.61%.

Analyst Ratings Changes

A number of equities analysts have recently commented on AMT shares. Barclays decreased their price target on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets raised their price target on American Tower from $246.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. lifted their price target on American Tower from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada increased their price objective on American Tower from $225.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group started coverage on American Tower in a research report on Monday, July 1st. They issued a “buy” rating and a $230.00 target price for the company. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $233.29.

Insiders Place Their Bets

In other news, EVP Olivier Puech sold 10,005 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $233.27, for a total value of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares of the company’s stock, valued at approximately $12,070,789.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Robert Joseph Meyer, Jr. sold 2,181 shares of American Tower stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $232.93, for a total value of $508,020.33. Following the sale, the chief accounting officer now directly owns 31,873 shares in the company, valued at approximately $7,424,177.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Olivier Puech sold 10,005 shares of American Tower stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $233.27, for a total transaction of $2,333,866.35. Following the sale, the executive vice president now directly owns 51,746 shares in the company, valued at approximately $12,070,789.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,723 shares of company stock valued at $7,795,397. 0.18% 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.