Blue Chip Partners LLC Sells 4,980 Shares of American Tower Co. (NYSE:AMT)

Blue Chip Partners LLC reduced its position in American Tower Co. (NYSE:AMT - Free Report) by 10.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,939 shares of the real estate investment trust's stock after selling 4,980 shares during the period. Blue Chip Partners LLC's holdings in American Tower were worth $7,509,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp grew its stake in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the period. Geode Capital Management LLC lifted its holdings in shares of American Tower by 1.9% in the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust's stock valued at $2,599,074,000 after purchasing an additional 204,426 shares in the last quarter. FMR LLC lifted its holdings in shares of American Tower by 25.4% in the third 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 holdings in shares of American Tower by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust's stock valued at $1,211,397,000 after purchasing an additional 243,061 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in American Tower by 0.9% during the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust's stock worth $981,455,000 after acquiring an additional 38,436 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Trading Up 2.1 %

NYSE:AMT traded up $3.95 during trading hours on Thursday, hitting $192.51. 2,848,528 shares of the company were exchanged, compared to its average volume of 2,144,998. The stock has a market capitalization of $89.96 billion, a price-to-earnings ratio of 81.23, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a fifty day simple moving average of $185.89 and a 200 day simple moving average of $207.99.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, December 27th. American Tower's dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several analyst reports. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Citigroup reduced their price target on American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Finally, JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 target price for the company. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.79.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.18% of the company's stock.

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.