American Tower Co. (NYSE:AMT) Stock Position Lowered by Tranquility Partners LLC

Tranquility Partners LLC lessened its position in American Tower Co. (NYSE:AMT) by 7.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,094 shares of the real estate investment trust’s stock after selling 498 shares during the quarter. Tranquility Partners LLC’s holdings in American Tower were worth $1,118,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in AMT. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in American Tower in the 4th quarter worth approximately $233,000. Van ECK Associates Corp lifted its position in American Tower by 4.0% in the 4th quarter. Van ECK Associates Corp now owns 132,818 shares of the real estate investment trust’s stock worth $24,360,000 after buying an additional 5,110 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in American Tower by 12.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 408,273 shares of the real estate investment trust’s stock worth $73,910,000 after buying an additional 44,665 shares in the last quarter. Community Financial Services Group LLC lifted its position in American Tower by 9.4% in the 4th quarter. Community Financial Services Group LLC now owns 4,804 shares of the real estate investment trust’s stock worth $881,000 after buying an additional 414 shares in the last quarter. Finally, Strengthening Families & Communities LLC increased its stake in shares of American Tower by 3.1% during the 4th quarter. Strengthening Families & Communities LLC now owns 10,846 shares of the real estate investment trust’s stock worth $1,990,000 after purchasing an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Wells Fargo & Company dropped 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 note on Thursday, January 23rd. BMO Capital Markets dropped their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays dropped their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower Trading Down 2.0 %

Shares of AMT stock opened at $189.54 on Thursday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market capitalization of $88.57 billion, a P/E ratio of 79.97, a P/E/G ratio of 1.27 and a beta of 0.84. The firm has a 50-day moving average price of $187.80 and a 200 day moving average price of $209.34. 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 Announces Dividend

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

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on 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 in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.