Montag A & Associates Inc. trimmed its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 96.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 443 shares of the real estate investment trust's stock after selling 12,125 shares during the period. Montag A & Associates Inc.'s holdings in American Tower were worth $82,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of AMT. Creative Planning grew its stake in American Tower by 7.1% during the third quarter. Creative Planning now owns 75,640 shares of the real estate investment trust's stock valued at $17,591,000 after acquiring an additional 4,999 shares in the last quarter. Good Life Advisors LLC purchased a new position in shares of American Tower in the 3rd quarter worth $201,000. Blue Trust Inc. grew its stake in shares of American Tower by 35.3% in the 3rd quarter. Blue Trust Inc. now owns 5,177 shares of the real estate investment trust's stock worth $1,204,000 after buying an additional 1,350 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of American Tower by 14.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 2,955 shares of the real estate investment trust's stock worth $687,000 after buying an additional 368 shares in the last quarter. Finally, Resonant Capital Advisors LLC purchased a new position in shares of American Tower in the 3rd quarter worth $245,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at American Tower
In other news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by company insiders.
American Tower Trading Down 0.5 %
AMT traded down $1.06 on Friday, reaching $191.32. 3,304,311 shares of the company traded hands, compared to its average volume of 2,179,106. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The firm has a fifty day simple moving average of $185.67 and a two-hundred day simple moving average of $207.64. The company has a market cap of $89.40 billion, a P/E ratio of 80.73, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.
American Tower Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. American Tower's payout ratio is 273.42%.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on AMT shares. Barclays dropped their price objective on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. JMP Securities started coverage on shares of American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective for the company. Citigroup dropped their price objective on shares of American Tower from $255.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Finally, The Goldman Sachs Group dropped 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 note on Thursday, December 12th. 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.79.
View Our Latest Report on American Tower
About American Tower
(
Free Report)
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.
Further Reading
Before you consider American Tower, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Tower wasn't on the list.
While American Tower currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio?
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
