State of New Jersey Common Pension Fund D Cuts Stake in American Tower Corporation (REIT) (AMT)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of American Tower Corporation (REIT) (NYSE:AMT) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 538,500 shares of the real estate investment trust’s stock after selling 112,000 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.13% of American Tower Corporation (REIT) worth $73,602,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in American Tower Corporation (REIT) by 1,886.3% during the second quarter. Janus Henderson Group PLC now owns 7,468,416 shares of the real estate investment trust’s stock valued at $988,214,000 after acquiring an additional 7,092,413 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of American Tower Corporation (REIT) by 823.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,606,119 shares of the real estate investment trust’s stock worth $212,525,000 after purchasing an additional 1,432,155 shares during the last quarter. Vanguard Group Inc. grew its position in American Tower Corporation (REIT) by 3.8% during the first quarter. Vanguard Group Inc. now owns 27,561,482 shares of the real estate investment trust’s stock valued at $3,349,823,000 after buying an additional 1,008,946 shares during the period. Prudential Financial Inc. grew its position in shares of American Tower Corporation (REIT) by 56.7% in the second quarter. Prudential Financial Inc. now owns 1,963,407 shares of the real estate investment trust’s stock valued at $259,798,000 after purchasing an additional 710,130 shares during the period. Finally, Winslow Capital Management LLC grew its position in shares of American Tower Corporation (REIT) by 36.5% in the second quarter. Winslow Capital Management LLC now owns 2,539,716 shares of the real estate investment trust’s stock valued at $336,055,000 after purchasing an additional 679,096 shares during the period. Institutional investors own 92.01% of the company’s stock.

Shares of American Tower Corporation (NYSE:AMT) traded down $1.28 during midday trading on Friday, hitting $150.54. 1,537,100 shares of the company were exchanged, compared to its average volume of 1,979,064. American Tower Corporation has a fifty-two week low of $99.72 and a fifty-two week 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 $65,108.92, a PE ratio of 23.50, a P/E/G ratio of 1.79 and a beta of 0.74.

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

Several research firms have recently weighed in on AMT. ValuEngine raised shares of American Tower Corporation (REIT) from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of American Tower Corporation (REIT) from a “buy” rating to a “hold” rating in a report on Thursday. Argus upped their price target on shares of American Tower Corporation (REIT) to $170.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Group LLC upped their price target on shares of American Tower Corporation (REIT) from $144.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Finally, Macquarie increased their price objective on shares of American Tower Corporation (REIT) from $162.00 to $165.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. American Tower Corporation (REIT) currently has a consensus rating of “Buy” and an average target price of $155.85.

In other American Tower Corporation (REIT) news, EVP Amit Sharma sold 20,747 shares of American Tower Corporation (REIT) stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $139.67, for a total transaction of $2,897,733.49. Following the transaction, the executive vice president now owns 101,605 shares of the company’s stock, valued at approximately $14,191,170.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edmund Disanto sold 10,000 shares of American Tower Corporation (REIT) 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 in the company, valued at approximately $20,662,208. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,747 shares of company stock worth $16,054,543. 0.86% of the stock is owned by company insiders.

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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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