American Tower Co. (NYSE:AMT) Shares Sold by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC cut its holdings in American Tower Co. (NYSE:AMT) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,146 shares of the real estate investment trust’s stock after selling 311 shares during the quarter. Accretive Wealth Partners LLC’s holdings in American Tower were worth $760,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Balentine LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $586,000. Nordea Investment Management AB grew its position in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower in the third quarter valued at approximately $1,156,000. Brookstone Capital Management grew its position in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management grew its position in shares of American Tower by 5.5% in the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after purchasing an additional 22,523 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AMT shares. Citigroup reduced their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets reduced their price objective 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. The Goldman Sachs Group reduced their price objective 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. Finally, Scotiabank reduced 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 research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $225.79.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction 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 directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $189.41 on Friday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a fifty day moving average of $187.05 and a 200-day moving average of $209.07. The firm has a market capitalization of $88.51 billion, a P/E ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84. 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 Dividend Announcement

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