Intact Investment Management Inc. Sells 20,300 Shares of American Tower Co. (NYSE:AMT)

Intact Investment Management Inc. trimmed its holdings in American Tower Co. (NYSE:AMT) by 64.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,000 shares of the real estate investment trust’s stock after selling 20,300 shares during the quarter. Intact Investment Management Inc.’s holdings in American Tower were worth $2,018,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new stake in shares of American Tower in the third quarter worth approximately $1,156,000. TigerOak Management L.L.C. purchased a new stake in shares of American Tower in the fourth quarter worth approximately $1,102,000. Brookstone Capital Management raised its holdings in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares during the period. Finally, CCLA Investment Management raised its holdings in shares of American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after buying an additional 22,523 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 1.6 %

American Tower stock opened at $211.02 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $98.64 billion, a price-to-earnings ratio of 89.04, a PEG ratio of 1.29 and a beta of 0.85. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The business has a fifty day moving average price of $192.33 and a 200-day moving average price of $205.96.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.51 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. Equities research analysts forecast that American Tower Co. will post 10.14 EPS for the current fiscal year.

American Tower Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, April 11th will be given a $1.70 dividend. This is a boost from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.22%. American Tower’s dividend payout ratio (DPR) is presently 141.37%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. BMO Capital Markets raised their price objective on American Tower from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Scotiabank reduced their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $226.29.

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.