Lincluden Management Ltd. Has $3.77 Million Stock Position in American Tower Co. (NYSE:AMT)

Lincluden Management Ltd. lessened its position in shares of American Tower Co. (NYSE:AMT) by 13.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 20,542 shares of the real estate investment trust’s stock after selling 3,102 shares during the quarter. Lincluden Management Ltd.’s holdings in American Tower were worth $3,768,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMT. Balentine LLC acquired a new stake in shares of American Tower during the third quarter worth $586,000. Nordea Investment Management AB grew its holdings in American Tower by 28.5% during 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 period. Point72 Hong Kong Ltd bought a new position in shares of American Tower in the 3rd quarter worth about $1,156,000. TigerOak Management L.L.C. acquired a new position in shares of American Tower in the 4th quarter valued at about $1,102,000. Finally, Brookstone Capital Management boosted its position in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday. Barclays dropped their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. 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 research note on Thursday, January 23rd. Four research 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $227.00.

American Tower Stock Up 0.2 %

AMT stock opened at $191.88 on Tuesday. The stock’s 50 day moving average is $185.63 and its 200-day moving average is $207.14. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market capitalization of $89.66 billion, a PE ratio of 80.96, a P/E/G ratio of 1.29 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is 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.