New York State Teachers Retirement System Has $74.36 Million Position in American Tower Co. (NYSE:AMT)

New York State Teachers Retirement System reduced its stake in shares of American Tower Co. (NYSE:AMT) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 405,435 shares of the real estate investment trust’s stock after selling 23,327 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of American Tower worth $74,361,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. CX Institutional increased its stake in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares in the last quarter. Creative Planning increased its stake in American Tower by 7.1% during the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after purchasing an additional 4,999 shares in the last quarter. Magnus Financial Group LLC bought a new stake in American Tower during the 3rd quarter worth approximately $226,000. Sumitomo Life Insurance Co. increased its stake in American Tower by 2.5% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 5,889 shares of the real estate investment trust’s stock worth $1,370,000 after purchasing an additional 144 shares in the last quarter. Finally, Presima Securities ULC increased its stake in American Tower by 1.7% during the 3rd quarter. Presima Securities ULC now owns 18,235 shares of the real estate investment trust’s stock worth $4,241,000 after purchasing an additional 300 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AMT shares. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets decreased their price target on shares of 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, JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Trading Up 0.2 %

NYSE AMT opened at $189.90 on Friday. The company has a market cap of $88.74 billion, a PE ratio of 80.13, a PEG ratio of 1.27 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a 50 day moving average of $187.44 and a 200-day moving average of $209.20.

American Tower Dividend Announcement

The firm also recently declared 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 3.41%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

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.