RMB Capital Management LLC Trims Stake in American Tower Corp (NYSE:AMT)

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RMB Capital Management LLC cut its holdings in American Tower Corp (NYSE:AMT) by 12.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 105,211 shares of the real estate investment trust’s stock after selling 14,283 shares during the period. American Tower accounts for about 1.1% of RMB Capital Management LLC’s holdings, making the stock its 20th biggest position. RMB Capital Management LLC’s holdings in American Tower were worth $22,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in American Tower by 6.8% in the 4th quarter. State Street Corp now owns 19,878,737 shares of the real estate investment trust’s stock valued at $4,588,391,000 after acquiring an additional 1,266,057 shares during the last quarter. Cohen & Steers Inc. raised its holdings in American Tower by 51.3% in the 4th quarter. Cohen & Steers Inc. now owns 9,031,127 shares of the real estate investment trust’s stock valued at $2,075,534,000 after acquiring an additional 3,063,190 shares during the last quarter. Geode Capital Management LLC raised its holdings in American Tower by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 6,368,646 shares of the real estate investment trust’s stock valued at $1,460,474,000 after acquiring an additional 200,746 shares during the last quarter. Capital International Investors raised its holdings in American Tower by 0.8% in the 4th quarter. Capital International Investors now owns 5,892,855 shares of the real estate investment trust’s stock valued at $1,354,296,000 after acquiring an additional 44,281 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in American Tower by 9.8% in the 4th quarter. Capital Research Global Investors now owns 4,972,400 shares of the real estate investment trust’s stock valued at $1,142,757,000 after acquiring an additional 442,934 shares during the last quarter. Institutional investors own 91.73% of the company’s stock.

American Tower stock traded up $14.27 during trading on Friday, reaching $242.43. 2,812,237 shares of the company’s stock were exchanged, compared to its average volume of 1,978,653. The company’s 50-day moving average is $239.56 and its two-hundred day moving average is $229.48. The company has a debt-to-equity ratio of 6.91, a quick ratio of 0.57 and a current ratio of 0.57. American Tower Corp has a 52-week low of $174.32 and a 52-week high of $260.43. The firm has a market cap of $101.14 billion, a price-to-earnings ratio of 56.78, a PEG ratio of 1.94 and a beta of 0.44.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.12). The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.99 billion. American Tower had a net margin of 24.55% and a return on equity of 35.63%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 earnings per share. Analysts anticipate that American Tower Corp will post 8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Friday, June 19th will be given a $1.10 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.08. This represents a $4.40 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, June 18th. American Tower’s dividend payout ratio is presently 55.89%.

In other American Tower news, EVP Olivier Puech sold 2,184 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $223.63, for a total value of $488,407.92. Following the completion of the transaction, the executive vice president now directly owns 21,887 shares of the company’s stock, valued at approximately $4,894,589.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Steven O. Vondran sold 1,229 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $205.81, for a total transaction of $252,940.49. Following the completion of the transaction, the executive vice president now directly owns 27,469 shares of the company’s stock, valued at $5,653,394.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,392 shares of company stock valued at $3,343,752. 0.65% of the stock is currently owned by corporate insiders.

Several brokerages have weighed in on AMT. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating in a report on Thursday, March 12th. Morgan Stanley upped their price objective on American Tower from $218.00 to $245.00 and gave the stock an “equal weight” rating in a report on Monday, April 27th. Edward Jones upgraded American Tower from a “hold” rating to a “buy” rating in a report on Tuesday, March 24th. UBS Group upgraded American Tower from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a report on Thursday, April 2nd. Finally, Citigroup upgraded American Tower from a “neutral” rating to a “buy” rating and set a $280.00 price objective for the company in a report on Thursday, March 5th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $257.38.

American Tower 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 approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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