Adell Harriman & Carpenter Inc. Decreases Stock Holdings in American Tower Co. (NYSE:AMT)

Adell Harriman & Carpenter Inc. cut its position in American Tower Co. (NYSE:AMT - Free Report) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,380 shares of the real estate investment trust's stock after selling 2,009 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in American Tower were worth $7,039,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in AMT. State Street Corp lifted its position in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after buying an additional 635,726 shares during the period. Geode Capital Management LLC grew its position in American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust's stock worth $2,599,074,000 after acquiring an additional 204,426 shares during the last quarter. FMR LLC increased its holdings in American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust's stock worth $1,211,397,000 after purchasing an additional 243,061 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of American Tower by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust's stock valued at $981,455,000 after buying an additional 38,436 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. StockNews.com lowered shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Citigroup decreased their price target on shares of American Tower from $255.00 to $220.00 and set a "buy" rating for the company in a report on Friday, February 14th. Barclays dropped their price objective on American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Finally, The Goldman Sachs Group decreased their target price on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Four investment 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.79.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

AMT stock traded down $1.00 during midday trading on Wednesday, reaching $188.55. The company had a trading volume of 2,470,020 shares, compared to its average volume of 2,123,010. The firm has a 50-day moving average price of $186.11 and a 200-day moving average price of $208.12. The company has a market capitalization of $88.11 billion, a P/E ratio of 79.56, a P/E/G ratio of 1.27 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 company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 3.44%. American Tower's dividend payout ratio is 273.42%.

American Tower Company 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.