Osaic Holdings Inc. Has $17.81 Million Stake in American Tower Co. (NYSE:AMT)

Osaic Holdings Inc. trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 51.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,115 shares of the real estate investment trust’s stock after selling 96,621 shares during the period. Osaic Holdings Inc.’s holdings in American Tower were worth $17,813,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AMT. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the first quarter valued at approximately $25,000. Gold Investment Management Ltd. bought a new position in American Tower during the fourth quarter worth $28,000. Thompson Investment Management Inc. acquired a new position in shares of American Tower in the fourth quarter valued at $29,000. SOA Wealth Advisors LLC. bought a new position in shares of American Tower in the first quarter valued at about $30,000. Finally, Private Wealth Management Group LLC acquired a new stake in shares of American Tower during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMT. BMO Capital Markets cut their price objective on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Company raised their price target on American Tower from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Monday, July 15th. Morgan Stanley upped their price objective on shares of American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Barclays dropped their target price on shares of American Tower from $234.00 to $223.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Raymond James upgraded shares of American Tower from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $226.00 to $248.00 in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $222.92.

American Tower Stock Down 0.4 %

Shares of American Tower stock traded down $0.77 during trading on Monday, reaching $209.37. 1,435,175 shares of the company traded hands, compared to its average volume of 2,335,339. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $97.77 billion, a PE ratio of 47.53, a P/E/G ratio of 1.48 and a beta of 0.81. The company has a 50 day moving average price of $195.61 and a 200-day moving average price of $193.64.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.54 EPS. As a group, equities research analysts expect that American Tower Co. will post 10.04 earnings per share for the current fiscal year.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 14th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Friday, June 14th. American Tower’s payout ratio is currently 146.61%.

Insider Activity

In other news, EVP Sanjay Goel sold 3,504 shares of American Tower stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total value of $702,061.44. Following the completion of the transaction, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert D. Hormats sold 700 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares in the company, valued at $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

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 over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.