American Tower Co. (NYSE:AMT) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. lessened its stake in American Tower Co. (NYSE:AMT - Free Report) by 43.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,804 shares of the real estate investment trust's stock after selling 1,368 shares during the period. Focus Financial Network Inc.'s holdings in American Tower were worth $331,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AMT. FMR LLC raised its stake in shares of 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 purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC raised its position in American Tower by 2,723.4% during 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 buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC lifted its stake in shares of American Tower by 23,224.1% in 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 acquiring an additional 993,061 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of American Tower by 22,242.7% in the third 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 acquiring an additional 775,379 shares in the last quarter. Finally, State Street Corp increased its position in American Tower by 3.1% during the 3rd 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. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMT shares. Scotiabank cut their price target on shares of American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Barclays dropped their target price on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 price target on the stock. Wells Fargo & Company lowered their price target on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. Finally, Mizuho cut their price target 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. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $225.79.

Insiders Place Their Bets

In other American Tower 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 transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is currently owned by insiders.

American Tower Trading Down 0.3 %

AMT traded down $0.58 during midday trading on Monday, hitting $189.41. The company's stock had a trading volume of 1,776,002 shares, compared to its average volume of 2,051,496. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a 50-day moving average price of $186.70 and a two-hundred day moving average price of $208.71. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a market cap of $88.51 billion, a P/E ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84.

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 given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower's dividend payout ratio (DPR) is 273.42%.

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.