Principal Securities Inc. Cuts Stock Position in American Tower Co. (NYSE:AMT)

Principal Securities Inc. lessened its stake in American Tower Co. (NYSE:AMT - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,090 shares of the real estate investment trust's stock after selling 3,789 shares during the quarter. Principal Securities Inc.'s holdings in American Tower were worth $2,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its holdings in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 3rd quarter worth $30,000. Hara Capital LLC purchased a new stake in American Tower in the 3rd quarter worth $31,000. Roxbury Financial LLC purchased a new stake in American Tower in the 4th quarter worth $32,000. Finally, Legacy Investment Solutions LLC purchased a new stake in American Tower in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

American Tower Trading Down 0.5 %

NYSE AMT traded down $1.06 during trading hours on Friday, reaching $191.32. The company had a trading volume of 3,304,311 shares, compared to its average volume of 2,179,106. The stock has a 50-day moving average of $185.67 and a 200 day moving average of $207.64. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $89.40 billion, a P/E ratio of 80.73, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. American Tower's payout ratio is currently 273.42%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMT shares. Barclays lowered their target price on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.79.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

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.