Asset Management One Co. Ltd. Trims Stake in American Tower Co. (NYSE:AMT)

Asset Management One Co. Ltd. lowered its holdings in American Tower Co. (NYSE:AMT - Free Report) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,746 shares of the real estate investment trust's stock after selling 9,883 shares during the quarter. Asset Management One Co. Ltd.'s holdings in American Tower were worth $33,418,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the third quarter valued at $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter valued at $34,000. Finally, Activest Wealth Management grew its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was 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 directly owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

American Tower Stock Up 0.4 %

Shares of NYSE:AMT traded up $0.68 on Tuesday, hitting $190.06. 825,307 shares of the company's stock were exchanged, compared to its average volume of 2,062,511. The firm's 50-day moving average is $186.31 and its 200 day moving average is $208.44. The company has a market capitalization of $88.81 billion, a PE ratio of 79.99, 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 quick ratio of 0.69 and a current ratio of 0.69.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. American Tower's dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AMT. Scotiabank dropped their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, January 23rd. Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group dropped their price objective 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. Wells Fargo & Company lowered their target price on American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Finally, Barclays lowered their target price on 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 investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.79.

American Tower 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.