Oppenheimer Asset Management Inc. Has $20.94 Million Position in American Tower Co. (NYSE:AMT)

Oppenheimer Asset Management Inc. reduced its holdings in American Tower Co. (NYSE:AMT) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,173 shares of the real estate investment trust’s stock after selling 13,053 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in American Tower were worth $20,940,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AMT. Assenagon Asset Management S.A. grew its position in American Tower by 15.3% during the third quarter. Assenagon Asset Management S.A. now owns 16,857 shares of the real estate investment trust’s stock worth $3,920,000 after buying an additional 2,233 shares in the last quarter. Arkadios Wealth Advisors grew its position in American Tower by 4.0% during the third quarter. Arkadios Wealth Advisors now owns 1,737 shares of the real estate investment trust’s stock worth $404,000 after buying an additional 67 shares in the last quarter. Fortitude Family Office LLC grew its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Integrated Advisors Network LLC grew its position in American Tower by 19.4% during the third quarter. Integrated Advisors Network LLC now owns 12,151 shares of the real estate investment trust’s stock worth $2,826,000 after buying an additional 1,974 shares in the last quarter. Finally, Childress Capital Advisors LLC grew its position in American Tower by 4.1% during the third quarter. Childress Capital Advisors LLC now owns 2,137 shares of the real estate investment trust’s stock worth $497,000 after buying an additional 84 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of a number of analyst reports. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Morgan Stanley cut their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday. BMO Capital Markets lifted their target price on shares of American Tower from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Barclays cut their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.21.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of NYSE:AMT opened at $200.75 on Thursday. 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 company has a market capitalization of $93.81 billion, a price-to-earnings ratio of 84.70, a P/E/G ratio of 1.29 and a beta of 0.84. The firm’s 50 day simple moving average is $186.16 and its 200 day simple moving average is $206.96. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

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

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.23%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

About American Tower

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.