Csenge Advisory Group Decreases Stake in American Tower Co. (NYSE:AMT)

Csenge Advisory Group cut its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 29.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,165 shares of the real estate investment trust's stock after selling 1,711 shares during the quarter. Csenge Advisory Group's holdings in American Tower were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Palumbo Wealth Management LLC lifted its stake in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock valued at $864,000 after buying an additional 57 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock valued at $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC raised its holdings in American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 58 shares during the last quarter. Fullcircle Wealth LLC raised its holdings in American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust's stock valued at $1,123,000 after acquiring an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings in American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust's stock valued at $206,000 after acquiring an additional 61 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Down 0.5 %

NYSE AMT traded down $1.06 during trading hours on Friday, hitting $191.32. The company had a trading volume of 3,304,311 shares, compared to its average volume of 2,179,106. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market capitalization of $89.40 billion, a price-to-earnings ratio of 80.73, a P/E/G 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. The firm's 50 day moving average is $185.67 and its 200 day moving average is $207.64.

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 issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.39%. American Tower's dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AMT shares. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Barclays cut their price target on American Tower from $215.00 to $214.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Finally, JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an "outperform" rating and a $225.00 price objective for the company. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $225.79.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on 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 in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by 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.