Boston Financial Mangement LLC Sells 27,068 Shares of American Tower Co. (NYSE:AMT)

Boston Financial Mangement LLC lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 18.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,546 shares of the real estate investment trust's stock after selling 27,068 shares during the period. Boston Financial Mangement LLC's holdings in American Tower were worth $21,742,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC raised its stake in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC grew its holdings in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust's stock worth $231,941,000 after purchasing an additional 993,061 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust's stock valued at $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Finally, State Street Corp boosted its position in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock valued at $4,924,091,000 after buying an additional 635,726 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Scotiabank dropped their price target on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. StockNews.com lowered American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, Barclays decreased their price target 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. Four equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.79.

American Tower Trading Down 0.5 %

Shares of AMT stock traded down $1.06 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 company has a 50-day moving average of $185.78 and a 200-day moving average of $207.88. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a market cap of $89.40 billion, a PE ratio of 80.73, a PEG 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 Announces Dividend

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

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm's stock in a transaction on 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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company's stock.

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.