American Tower Corp (AMT) is TCW Group Inc.’s 5th Largest Position

TCW Group Inc. decreased its stake in American Tower Corp (NYSE:AMT) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,921,178 shares of the real estate investment trust’s stock after selling 79,408 shares during the period. American Tower comprises about 2.2% of TCW Group Inc.’s holdings, making the stock its 5th biggest position. TCW Group Inc.’s holdings in American Tower were worth $274,094,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Investment Centers of America Inc. boosted its holdings in American Tower by 5.6% during the 3rd quarter. Investment Centers of America Inc. now owns 6,495 shares of the real estate investment trust’s stock valued at $887,000 after acquiring an additional 343 shares during the period. IFM Investors Pty Ltd boosted its holdings in American Tower by 3.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,978 shares of the real estate investment trust’s stock valued at $1,637,000 after acquiring an additional 353 shares during the period. Security National Trust Co. boosted its holdings in American Tower by 7.7% during the 4th quarter. Security National Trust Co. now owns 5,035 shares of the real estate investment trust’s stock valued at $718,000 after acquiring an additional 360 shares during the period. CAPROCK Group Inc. boosted its holdings in American Tower by 19.2% during the 4th quarter. CAPROCK Group Inc. now owns 2,352 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 379 shares during the period. Finally, Huntington National Bank boosted its holdings in American Tower by 0.7% during the 3rd quarter. Huntington National Bank now owns 51,596 shares of the real estate investment trust’s stock valued at $7,052,000 after acquiring an additional 383 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.

A number of equities analysts recently issued reports on the company. Zacks Investment Research cut American Tower from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. KeyCorp set a $156.00 target price on American Tower and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Macquarie upped their target price on American Tower from $162.00 to $165.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. ValuEngine upgraded American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Finally, Cowen reiterated a “buy” rating on shares of American Tower in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company’s stock. American Tower presently has an average rating of “Buy” and a consensus target price of $158.60.

American Tower Corp (NYSE:AMT) opened at $140.02 on Monday. The company has a market capitalization of $60,048.42, a price-to-earnings ratio of 53.24, a PEG ratio of 1.33 and a beta of 0.77. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. American Tower Corp has a 1 year low of $107.66 and a 1 year high of $155.28.

American Tower declared that its board has approved a stock buyback program on Thursday, December 7th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In other news, Director Samme L. Thompson sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $143.16, for a total value of $715,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $142.52, for a total value of $4,940,740.84. Following the completion of the transaction, the chairman now directly owns 305,374 shares of the company’s stock, valued at $43,521,902.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,251 shares of company stock valued at $5,885,334. Corporate insiders own 0.86% of the company’s stock.

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About American Tower

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.

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

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