American Tower Co. (NYSE:AMT) Stock Position Lowered by FourThought Financial Partners LLC

FourThought Financial Partners LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,380 shares of the real estate investment trust’s stock after selling 3,274 shares during the quarter. American Tower makes up approximately 2.2% of FourThought Financial Partners LLC’s portfolio, making the stock its 7th biggest position. FourThought Financial Partners LLC’s holdings in American Tower were worth $20,795,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AMT. Brown Financial Advisors raised its holdings in American Tower by 11.4% in the 4th quarter. Brown Financial Advisors now owns 2,290 shares of the real estate investment trust’s stock worth $420,000 after purchasing an additional 234 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in shares of American Tower by 23.7% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 12,585 shares of the real estate investment trust’s stock valued at $2,320,000 after purchasing an additional 2,412 shares in the last quarter. Pring Turner Capital Group Inc. raised its holdings in American Tower by 23.2% in the fourth quarter. Pring Turner Capital Group Inc. now owns 5,706 shares of the real estate investment trust’s stock worth $1,047,000 after purchasing an additional 1,073 shares in the last quarter. Skylands Capital LLC lifted its position in American Tower by 45.7% during the fourth quarter. Skylands Capital LLC now owns 56,320 shares of the real estate investment trust’s stock valued at $10,330,000 after buying an additional 17,675 shares during the period. Finally, RWC Asset Management LLP lifted its position in American Tower by 4.4% during the 4th quarter. RWC Asset Management LLP now owns 245,469 shares of the real estate investment trust’s stock valued at $45,021,000 after acquiring an additional 10,355 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

AMT has been the subject of several analyst reports. Citigroup reduced their price target on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. 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. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Finally, Wells Fargo & Company dropped 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 research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $227.00.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

American Tower stock opened at $191.88 on Tuesday. The firm’s fifty day moving average is $185.63 and its 200 day moving average is $207.14. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $89.66 billion, a price-to-earnings ratio of 80.96, a PEG ratio of 1.29 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower Dividend Announcement

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 $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) 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.