Robeco Institutional Asset Management B.V. Sells 22,889 Shares of American Tower Co. (NYSE:AMT)

Robeco Institutional Asset Management B.V. cut its stake in American Tower Co. (NYSE:AMT) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 198,810 shares of the real estate investment trust’s stock after selling 22,889 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in American Tower were worth $36,464,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Truist Financial Corp boosted its position in shares of American Tower by 9.6% during the second quarter. Truist Financial Corp now owns 189,063 shares of the real estate investment trust’s stock worth $36,750,000 after purchasing an additional 16,566 shares in the last quarter. Advisory Alpha LLC lifted its holdings in American Tower by 13.7% during the second quarter. Advisory Alpha LLC now owns 1,722 shares of the real estate investment trust’s stock worth $335,000 after acquiring an additional 207 shares in the last quarter. Cetera Investment Advisers lifted its holdings in American Tower by 3.1% during the second quarter. Cetera Investment Advisers now owns 114,913 shares of the real estate investment trust’s stock worth $22,337,000 after acquiring an additional 3,464 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of American Tower in the second quarter worth about $9,248,000. Finally, Heritage Wealth Management Inc. bought a new stake in shares of American Tower in the second quarter worth about $549,000. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. Wells Fargo & Company decreased their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday. Finally, Barclays reduced their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $226.23.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $185.71 on Friday. The stock has a market capitalization of $86.78 billion, a PE ratio of 78.36, a P/E/G ratio of 1.24 and a beta of 0.84. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The firm has a fifty day simple moving average of $191.32 and a 200 day simple moving average of $210.78. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower (NYSE:AMT) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. On average, research analysts expect that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.