Legacy Capital Wealth Partners LLC Trims Stock Position in American Tower Co. (NYSE:AMT)

Legacy Capital Wealth Partners LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,493 shares of the real estate investment trust’s stock after selling 181 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in American Tower were worth $274,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Creative Planning grew its stake in American Tower by 7.1% in the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after buying an additional 4,999 shares in the last quarter. Good Life Advisors LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at $201,000. Blue Trust Inc. boosted its stake in shares of American Tower by 35.3% in the 3rd quarter. Blue Trust Inc. now owns 5,177 shares of the real estate investment trust’s stock valued at $1,204,000 after purchasing an additional 1,350 shares in the last quarter. Capital Investment Advisors LLC boosted its stake in shares of American Tower by 14.2% in the 3rd quarter. Capital Investment Advisors LLC now owns 2,955 shares of the real estate investment trust’s stock valued at $687,000 after purchasing an additional 368 shares in the last quarter. Finally, Resonant Capital Advisors LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at $245,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AMT shares. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. BMO Capital Markets lowered their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, Wells Fargo & Company lowered their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Stock Down 0.3 %

Shares of American Tower stock opened at $189.41 on Tuesday. 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 company has a 50-day moving average of $186.70 and a 200 day moving average of $208.71. The firm has a market cap of $88.51 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.27 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.

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 paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. American Tower’s payout ratio is 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.