American Tower Co. (NYSE:AMT) Shares Sold by Wealth Alliance

Wealth Alliance decreased its position in American Tower Co. (NYSE:AMT) by 18.5% in the 4th quarter, HoldingsChannel reports. The firm owned 3,909 shares of the real estate investment trust’s stock after selling 887 shares during the period. Wealth Alliance’s holdings in American Tower were worth $717,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Hara Capital LLC acquired a new position in shares of American Tower during the 3rd quarter valued at about $31,000. Roxbury Financial LLC acquired a new position in shares of American Tower during the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management increased its stake in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

American Tower stock opened at $192.51 on Friday. The stock has a market cap of $89.96 billion, a P/E ratio of 81.23, a price-to-earnings-growth 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. The stock has a 50 day moving average of $185.78 and a 200-day moving average of $207.88. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMT shares. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company dropped their price objective on shares of 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. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.79.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.