American Tower Corporation (REIT) (NYSE:AMT) Position Lowered by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its position in American Tower Corporation (REIT) (NYSE:AMT) by 33.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 714,109 shares of the real estate investment trust’s stock after selling 352,600 shares during the period. Canada Pension Plan Investment Board owned about 0.17% of American Tower Corporation (REIT) worth $97,604,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. CIBC World Markets Inc. lifted its position in American Tower Corporation (REIT) by 100.6% in the 2nd quarter. CIBC World Markets Inc. now owns 21,261 shares of the real estate investment trust’s stock worth $2,813,000 after buying an additional 10,663 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in American Tower Corporation (REIT) by 33.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 81,470 shares of the real estate investment trust’s stock worth $10,780,000 after buying an additional 20,222 shares in the last quarter. State of Tennessee Treasury Department lifted its position in American Tower Corporation (REIT) by 9.7% in the 2nd quarter. State of Tennessee Treasury Department now owns 349,736 shares of the real estate investment trust’s stock worth $46,277,000 after buying an additional 30,885 shares in the last quarter. BTC Capital Management Inc. lifted its position in American Tower Corporation (REIT) by 1.3% in the 2nd quarter. BTC Capital Management Inc. now owns 34,728 shares of the real estate investment trust’s stock worth $4,592,000 after buying an additional 453 shares in the last quarter. Finally, Motco lifted its position in American Tower Corporation (REIT) by 6.8% in the 2nd quarter. Motco now owns 3,112 shares of the real estate investment trust’s stock worth $412,000 after buying an additional 199 shares in the last quarter. 92.01% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on the stock. Citigroup Inc. lifted their target price on shares of American Tower Corporation (REIT) from $142.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 28th. Zacks Investment Research upgraded shares of American Tower Corporation (REIT) from a “sell” rating to a “hold” rating and set a $153.00 price target on the stock in a research report on Thursday, July 27th. Royal Bank Of Canada reiterated a “buy” rating and set a $153.00 target price on shares of American Tower Corporation (REIT) in a research report on Friday, September 1st. KeyCorp set a $156.00 target price on shares of American Tower Corporation (REIT) and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Finally, BidaskClub upgraded shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. American Tower Corporation (REIT) presently has an average rating of “Buy” and a consensus price target of $155.85.

In related news, EVP Edmund Disanto sold 10,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $136.00, for a total value of $1,360,000.00. Following the transaction, the executive vice president now directly owns 151,928 shares of the company’s stock, valued at approximately $20,662,208. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $145.89, for a total value of $4,960,260.00. Following the completion of the sale, the chairman now owns 304,707 shares in the company, valued at $44,453,704.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,747 shares of company stock valued at $16,054,543. 0.86% of the stock is owned by company insiders.

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American Tower Corporation (NYSE:AMT) traded down $1.28 during trading hours on Friday, reaching $150.54. 1,537,100 shares of the company were exchanged, compared to its average volume of 2,144,415. American Tower Corporation has a 1-year low of $99.72 and a 1-year high of $155.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $64,559.98, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 1.77 and a beta of 0.74.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Friday, September 29th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date was Thursday, September 28th. This is a positive change from American Tower Corporation (REIT)’s previous quarterly dividend of $0.64. American Tower Corporation (REIT)’s dividend payout ratio (DPR) is 100.38%.

About American Tower Corporation (REIT)

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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

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