RWC Asset Management LLP Sells 14,302 Shares of American Tower Co. (NYSE:AMT)

RWC Asset Management LLP lowered its position in shares of American Tower Co. (NYSE:AMT) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 250,598 shares of the real estate investment trust’s stock after selling 14,302 shares during the quarter. American Tower comprises 3.3% of RWC Asset Management LLP’s portfolio, making the stock its 6th largest position. RWC Asset Management LLP owned approximately 0.05% of American Tower worth $54,099,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cross Staff Investments Inc grew its holdings in shares of American Tower by 5.1% during the fourth quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after purchasing an additional 244 shares during the last quarter. Gateway Investment Advisers LLC grew its holdings in shares of American Tower by 57.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 35,751 shares of the real estate investment trust’s stock valued at $7,718,000 after purchasing an additional 13,074 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of American Tower by 0.5% during the third quarter. Victory Capital Management Inc. now owns 177,288 shares of the real estate investment trust’s stock valued at $29,155,000 after purchasing an additional 806 shares during the last quarter. PDS Planning Inc grew its holdings in shares of American Tower by 16.1% during the third quarter. PDS Planning Inc now owns 1,821 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 253 shares during the last quarter. Finally, FAS Wealth Partners Inc. bought a new position in shares of American Tower during the fourth quarter valued at approximately $2,001,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent research reports. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Mizuho initiated coverage on American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price objective for the company. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. decreased their price objective on American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, February 28th. Finally, Barclays increased their price objective on American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $217.36.

Insider Activity

In other news, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $190.46, for a total transaction of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares in the company, valued at approximately $3,532,080.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the sale, the chief financial officer now owns 62,969 shares in the company, valued at $12,953,352.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the completion of the sale, the director now owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

American Tower Price Performance

AMT traded down $1.21 during trading on Friday, reaching $171.69. The stock had a trading volume of 1,701,397 shares, compared to its average volume of 2,597,943. The firm has a market capitalization of $80.07 billion, a price-to-earnings ratio of 53.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10. The stock has a 50 day moving average of $190.29 and a two-hundred day moving average of $193.97.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, February 27th. The real estate investment trust reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.16). American Tower had a return on equity of 12.80% and a net margin of 13.31%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.74 billion. During the same quarter last year, the company earned $2.34 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts anticipate that American Tower Co. will post 9.94 EPS for the current fiscal year.

American Tower Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.77%. American Tower’s dividend payout ratio (DPR) is presently 203.77%.

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.