American Tower Co. (NYSE:AMT) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,242 shares of the real estate investment trust’s stock after selling 683 shares during the quarter. Impax Asset Management Group plc’s holdings in American Tower were worth $6,097,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Balentine LLC acquired a new position in American Tower in the 3rd quarter worth $586,000. Nordea Investment Management AB lifted its holdings in American Tower by 28.5% in 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 buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in American Tower in the 3rd quarter worth $1,156,000. TigerOak Management L.L.C. acquired a new position in American Tower in the 4th quarter worth $1,102,000. Finally, Brookstone Capital Management lifted its holdings in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity 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 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 represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $191.88 on Tuesday. 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 Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a 50-day simple moving average of $185.63 and a 200 day simple moving average of $207.14. The company has a market cap of $89.66 billion, a PE ratio of 80.96, a P/E/G ratio of 1.29 and a beta of 0.84.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is presently 273.42%.

Analysts Set New Price Targets

A number of brokerages have commented on AMT. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their target price 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 analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $227.00.

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.