American Tower Co. (NYSE:AMT) Shares Sold by Ledyard National Bank

Ledyard National Bank trimmed its position in American Tower Co. (NYSE:AMT) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,543 shares of the real estate investment trust’s stock after selling 119 shares during the quarter. Ledyard National Bank’s holdings in American Tower were worth $1,017,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Consolidated Portfolio Review Corp lifted its holdings in American Tower by 4.1% in the fourth quarter. Consolidated Portfolio Review Corp now owns 4,800 shares of the real estate investment trust’s stock valued at $880,000 after acquiring an additional 188 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in shares of American Tower by 16.1% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,811 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 251 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of American Tower by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 279,764 shares of the real estate investment trust’s stock worth $51,310,000 after purchasing an additional 2,362 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of American Tower by 4.5% during the 4th quarter. Bleakley Financial Group LLC now owns 8,344 shares of the real estate investment trust’s stock worth $1,530,000 after purchasing an additional 357 shares during the period. Finally, YANKCOM Partnership acquired a new stake in shares of American Tower during the 4th quarter worth about $376,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMT shares. The Goldman Sachs Group lowered 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 note on Thursday, December 12th. JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Barclays cut their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.23.

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 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 of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Performance

Shares of AMT opened at $189.69 on Friday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $88.64 billion, a PE ratio of 80.04, a PEG ratio of 1.24 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50-day simple moving average of $189.23 and a 200-day simple moving average of $209.91.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.42%. American Tower’s dividend payout ratio is currently 273.42%.

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.