Ieq Capital LLC Sells 1,087 Shares of American Tower Co. (NYSE:AMT)

Ieq Capital LLC trimmed its position in shares of American Tower Co. (NYSE:AMT) by 5.4% during the 4th quarter, Holdings Channel reports. The firm owned 19,020 shares of the real estate investment trust’s stock after selling 1,087 shares during the period. Ieq Capital LLC’s holdings in American Tower were worth $3,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. Palumbo Wealth Management LLC grew its position in American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC grew its stake in shares of American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares during the last quarter. Fullcircle Wealth LLC lifted its stake in shares of American Tower by 1.2% during the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after acquiring an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 61 shares during the period. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $191.32 on Friday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The business’s fifty day simple moving average is $185.67 and its 200-day simple moving average is $207.49. 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 company has a market cap of $89.40 billion, a PE ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’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 owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company dropped their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Mizuho lowered 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. Citigroup decreased their target price on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four investment 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’s stock. Based on data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $225.79.

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.