San Francisco Sentry Investment Group CA Reduces Stock Holdings in American Tower Corp (NYSE:AMT)

San Francisco Sentry Investment Group CA lessened its holdings in shares of American Tower Corp (NYSE:AMT) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,227 shares of the real estate investment trust’s stock after selling 110 shares during the quarter. San Francisco Sentry Investment Group CA’s holdings in American Tower were worth $1,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of American Tower by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 57,494,934 shares of the real estate investment trust’s stock worth $11,754,838,000 after acquiring an additional 248,968 shares during the period. BlackRock Inc. raised its holdings in shares of American Tower by 4.0% during the 2nd quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after acquiring an additional 1,213,664 shares during the period. Northern Trust Corp raised its holdings in shares of American Tower by 1.5% during the 2nd quarter. Northern Trust Corp now owns 6,772,952 shares of the real estate investment trust’s stock worth $1,384,730,000 after acquiring an additional 96,999 shares during the period. Invesco Ltd. raised its holdings in shares of American Tower by 8.3% during the 2nd quarter. Invesco Ltd. now owns 4,140,203 shares of the real estate investment trust’s stock worth $846,465,000 after acquiring an additional 316,054 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of American Tower by 16,153.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,848,439 shares of the real estate investment trust’s stock worth $786,813,000 after acquiring an additional 3,824,762 shares during the period. 92.54% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on AMT. SunTrust Banks boosted their price objective on shares of American Tower to $230.00 and gave the company a “buy” rating in a report on Thursday, August 1st. KeyCorp set a $242.00 price objective on shares of American Tower and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley boosted their price objective on shares of American Tower from $201.00 to $216.00 and gave the company an “equal weight” rating in a report on Thursday, September 19th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $237.00 price objective on the stock in a report on Tuesday, August 20th. Finally, Citigroup boosted their price objective on shares of American Tower from $236.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. American Tower currently has an average rating of “Hold” and an average price target of $215.79.

In related news, Director Pamela D. A. Reeve sold 4,167 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $240.80, for a total value of $1,003,413.60. Following the completion of the transaction, the director now directly owns 19,139 shares of the company’s stock, valued at $4,608,671.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Robert Joseph Meyer, Jr. sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $206.78, for a total value of $206,780.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,524 shares of company stock valued at $31,726,127. Corporate insiders own 0.75% of the company’s stock.

NYSE:AMT traded up $0.18 on Friday, reaching $205.87. 1,799,862 shares of the company’s stock were exchanged, compared to its average volume of 1,770,815. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 4.40. The firm has a market capitalization of $91.20 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.65 and a beta of 0.43. The business has a fifty day moving average of $220.99 and a 200-day moving average of $213.42. American Tower Corp has a 52-week low of $150.66 and a 52-week high of $242.00.

American Tower (NYSE:AMT) last announced its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $1.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.17. American Tower had a return on equity of 27.12% and a net margin of 20.58%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $1.85 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Corp will post 7.65 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Friday, September 27th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from American Tower’s previous quarterly dividend of $0.92. This represents a $3.80 dividend on an annualized basis and a dividend yield of 1.85%. American Tower’s payout ratio is currently 47.56%.

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 approximately 171,000 communications sites.

Featured Story: Outstanding Shares

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

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