Weaver Capital Management LLC Sells 344 Shares of American Tower Co. (NYSE:AMT)

Weaver Capital Management LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,557 shares of the real estate investment trust’s stock after selling 344 shares during the quarter. Weaver Capital Management LLC’s holdings in American Tower were worth $1,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Balentine LLC purchased a new position in American Tower in the 3rd quarter worth $586,000. Nordea Investment Management AB raised its stake in 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 acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in American Tower in the 3rd quarter worth $1,156,000. Czech National Bank raised its stake in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the last quarter. Finally, Brookstone Capital Management raised its stake in American Tower by 29.0% in the 4th 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 during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMT. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. 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, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four investment 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

American Tower Trading Down 0.6 %

Shares of American Tower stock opened at $184.21 on Wednesday. The stock has a market cap of $86.08 billion, a P/E ratio of 77.73, a P/E/G ratio of 1.24 and a beta of 0.84. The stock’s 50 day simple moving average is $190.14 and its 200-day simple moving average is $210.25. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Transactions at American Tower

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 stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.