Pittenger & Anderson Inc. Cuts Holdings in American Tower Co. (NYSE:AMT)

Pittenger & Anderson Inc. lowered its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,137 shares of the real estate investment trust's stock after selling 15,497 shares during the period. Pittenger & Anderson Inc.'s holdings in American Tower were worth $14,331,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMT. Fortitude Family Office LLC increased its holdings in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the third quarter valued at $30,000. Hara Capital LLC acquired a new stake in shares of American Tower during the third quarter worth $31,000. Roxbury Financial LLC acquired a new position in American Tower during the fourth quarter valued at $32,000. Finally, Legacy Investment Solutions LLC acquired a new position in American Tower in the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 92.69% of the company's stock.

American Tower Trading Up 2.1 %

Shares of American Tower stock traded up $3.95 during midday trading on Thursday, reaching $192.51. 2,848,528 shares of the company's stock traded hands, compared to its average volume of 2,144,998. The stock has a 50 day moving average of $185.89 and a 200-day moving average of $207.99. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $89.96 billion, a PE ratio of 81.23, 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.

American Tower Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AMT. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an "outperform" rating and a $225.00 target price for the company. Citigroup reduced their price target on American Tower from $255.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Barclays lowered their target price on American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Finally, Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Four investment 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. Based on data from MarketBeat, American Tower currently has an average rating of "Moderate Buy" and a consensus price target of $225.79.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.