By otakuyassine3@gmail.com 
Gladstone Institutional Advisory LLC reduced its stake in American Tower Co. (NYSE:AMT – Free Report) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,409 shares of the real estate investment trust’s stock after selling 79 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in American Tower were worth $258,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its position in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the third quarter worth $34,000. Finally, Activest Wealth Management boosted its holdings in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
AMT has been the topic of several analyst reports. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company dropped their price target on shares of 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.79.
Read Our Latest Stock Analysis on American Tower
American Tower Stock Performance
NYSE:AMT opened at $189.41 on Friday. 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 stock has a market cap of $88.51 billion, a P/E ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84. The stock has a 50 day simple moving average of $186.70 and a 200 day simple moving average of $208.89. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.
American Tower Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.
Insiders Place Their Bets
In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on 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 directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.
American Tower Company 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.
Featured Stories
Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMT – Free Report).
Receive News & Ratings for American Tower Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for American Tower and related companies with MarketBeat.com’s FREE daily email newsletter.