Avitas Wealth Management LLC Sells 60 Shares of American Tower Co. (NYSE:AMT)

Avitas Wealth Management LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,912 shares of the real estate investment trust’s stock after selling 60 shares during the quarter. Avitas Wealth Management LLC’s holdings in American Tower were worth $1,635,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. CX Institutional increased its position in shares of American Tower by 2.9% during the third 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 in the last quarter. Palumbo Wealth Management LLC increased its holdings in 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 purchasing an additional 57 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted its holdings in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 58 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its position in shares of American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock valued at $274,000 after buying an additional 59 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AMT. Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company cut 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 report on Thursday, January 23rd. Barclays reduced 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 report on Tuesday, January 28th. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Scotiabank reduced their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $184.21 on Wednesday. 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 firm has a market cap of $86.08 billion, a PE ratio of 77.73, a PEG ratio of 1.24 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock’s fifty day moving average price is $190.14 and its two-hundred day moving average price is $210.25.

American Tower Dividend Announcement

The firm also recently disclosed 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. This represents a $6.48 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.