American Tower Co. (NYSE:AMT) Shares Sold by Timber Creek Capital Management LLC

Timber Creek Capital Management LLC lessened its holdings in American Tower Co. (NYSE:AMT - Free Report) by 19.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,065 shares of the real estate investment trust's stock after selling 3,699 shares during the period. Timber Creek Capital Management LLC's holdings in American Tower were worth $2,763,000 as of its most recent SEC filing.

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

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a report on Monday, January 27th. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Barclays dropped their price target on American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their target price on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Four equities 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $225.79.

American Tower Price Performance

NYSE:AMT traded down $1.06 during trading hours on Friday, reaching $191.32. 3,304,311 shares of the company were exchanged, compared to its average volume of 2,179,106. 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 $89.40 billion, a PE ratio of 80.73, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The stock's 50-day moving average is $185.78 and its 200-day moving average is $207.88.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.39%. American Tower's payout ratio is currently 273.42%.

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.