Chevy Chase Trust Holdings LLC Has $45.01 Million Stake in American Tower Co. (NYSE:AMT)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 245,388 shares of the real estate investment trust's stock after selling 5,678 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of American Tower worth $45,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMT. Balentine LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $586,000. Nordea Investment Management AB grew its stake in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in American Tower in the third quarter valued at $1,156,000. Brookstone Capital Management boosted its holdings in shares of American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock valued at $1,629,000 after acquiring an additional 1,995 shares during the period. Finally, CCLA Investment Management grew its position in shares of American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after acquiring an additional 22,523 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Insiders Place Their Bets

In related 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 value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

American Tower Price Performance

Shares of AMT traded up $0.37 during trading hours on Tuesday, hitting $189.75. 2,235,669 shares of the company were exchanged, compared to its average volume of 2,082,213. The firm has a fifty day simple moving average of $186.31 and a 200-day simple moving average of $208.44. The company has a market capitalization of $88.67 billion, a PE ratio of 80.06, a PEG ratio of 1.27 and a beta of 0.84. 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 Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. American Tower's dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

Several brokerages recently weighed in on AMT. Citigroup cut their price objective on shares of American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Citizens Jmp raised American Tower to a "strong-buy" rating in a report on Monday, January 27th. JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 target price on the stock. Finally, Mizuho reduced their price target 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. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $225.79.

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.