American Tower Co. (NYSE:AMT) Shares Sold by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. lowered its stake in American Tower Co. (NYSE:AMT - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,392 shares of the real estate investment trust's stock after selling 1,922 shares during the period. American Tower comprises 1.2% of Financiere des Professionnels Fonds d investissement inc.'s investment portfolio, making the stock its 17th biggest position. Financiere des Professionnels Fonds d investissement inc.'s holdings in American Tower were worth $17,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in AMT. Fortitude Family Office LLC increased its holdings in shares of 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 American Tower in the third quarter valued at $30,000. Hara Capital LLC acquired a new stake in American Tower in the 3rd quarter valued at about $31,000. Roxbury Financial LLC acquired a new stake in American Tower in the 4th quarter valued at about $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in American Tower in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 92.69% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Scotiabank lowered their price target on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating on the stock in a research report on Thursday, January 23rd. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They set an "outperform" rating and a $225.00 price target for the company. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Citigroup dropped their price objective on American Tower from $255.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Finally, StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. 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 company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $225.79.

American Tower Trading Up 2.1 %

AMT traded up $3.95 on Thursday, reaching $192.51. 2,848,528 shares of the company's stock were exchanged, compared to its average volume of 2,144,998. The company has a market cap of $89.96 billion, a price-to-earnings ratio of 81.23, a PEG ratio of 1.27 and a beta of 0.84. 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 Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company's 50 day moving average is $185.89 and its 200-day moving average is $207.99.

American Tower Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction on 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 sale, the chief financial officer now directly 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company's stock.

About American Tower

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.