New York State Teachers Retirement System Has $74.36 Million Holdings in American Tower Co. (NYSE:AMT)

New York State Teachers Retirement System lessened its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 405,435 shares of the real estate investment trust's stock after selling 23,327 shares during the period. New York State Teachers Retirement System owned about 0.09% of American Tower worth $74,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CX Institutional lifted its holdings in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock worth $450,000 after acquiring an additional 54 shares during the period. Palumbo Wealth Management LLC lifted its holdings in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock worth $864,000 after acquiring an additional 57 shares during the period. Rehmann Capital Advisory Group lifted its holdings in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after acquiring an additional 58 shares during the period. Precedent Wealth Partners LLC lifted its holdings in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 58 shares during the period. Finally, Fullcircle Wealth LLC lifted its holdings in shares of American Tower by 1.2% during the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust's stock worth $1,123,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 92.69% of the company's stock.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The shares were 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 directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Up 0.2 %

Shares of AMT stock traded up $0.37 during trading hours on Tuesday, hitting $189.75. 2,301,000 shares of the company's stock traded hands, compared to its average volume of 2,111,813. The stock's 50 day simple moving average is $186.31 and its 200 day simple moving average is $208.44. The stock has a market cap of $88.67 billion, a PE ratio of 80.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. 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 firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, December 27th. American Tower's payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a "buy" rating for the company in a report on Friday. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. 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. 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. Finally, JMP Securities began 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. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, American Tower presently has an average rating of "Moderate Buy" and a consensus target price of $225.79.

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.