Optas LLC Cuts Stock Holdings in American Tower Co. (NYSE:AMT)

Optas LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 16.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,912 shares of the real estate investment trust’s stock after selling 381 shares during the quarter. Optas LLC’s holdings in American Tower were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMT. Fortitude Family Office LLC grew its position in shares of American Tower by 269.0% in the third 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 in the last quarter. Northwest Investment Counselors LLC purchased a new stake in American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $31,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter worth $34,000. Finally, Activest Wealth Management boosted its position 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. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Stock Down 0.6 %

AMT stock opened at $184.21 on Wednesday. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $86.08 billion, a price-to-earnings ratio of 77.73, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The company has a fifty day moving average price of $190.14 and a 200 day moving average price of $210.25.

American Tower Announces Dividend

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. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.52%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price objective 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. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Barclays decreased their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

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.