Rhumbline Advisers Sells 7,415 Shares of American Tower Co. (NYSE:AMT)

Rhumbline Advisers reduced its holdings in shares of American Tower Co. (NYSE:AMT - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,103,689 shares of the real estate investment trust's stock after selling 7,415 shares during the period. Rhumbline Advisers owned 0.24% of American Tower worth $202,427,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Balentine LLC purchased a new position in shares of American Tower during the third quarter valued at approximately $586,000. Nordea Investment Management AB grew its stake in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust's stock worth $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in American Tower during the 3rd quarter valued at approximately $1,156,000. Brookstone Capital Management boosted its holdings in American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust's stock worth $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management boosted its holdings in American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust's stock worth $79,344,000 after acquiring an additional 22,523 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Citigroup decreased their target price on shares of American Tower from $255.00 to $220.00 and set a "buy" rating for the company in a report on Friday, February 14th. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an "outperform" rating and a $225.00 price objective for the company. Finally, StockNews.com downgraded American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower has an average rating of "Moderate Buy" and an average target price of $225.79.

American Tower Stock Performance

American Tower stock traded down $1.00 during mid-day trading on Wednesday, reaching $188.55. 2,470,020 shares of the stock traded hands, compared to its average volume of 2,123,010. The stock has a market capitalization of $88.11 billion, a PE ratio of 79.56, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business's 50-day moving average is $186.11 and its 200-day moving average is $208.12. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, December 27th. American Tower's dividend payout ratio (DPR) is presently 273.42%.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

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.