American Tower Co. (NYSE:AMT) Shares Sold by Catalina Capital Group LLC

Catalina Capital Group LLC reduced its position in American Tower Co. (NYSE:AMT) by 9.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,302 shares of the real estate investment trust’s stock after selling 138 shares during the quarter. Catalina Capital Group LLC’s holdings in American Tower were worth $239,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC purchased a new stake in shares of American Tower in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the 3rd quarter worth $34,000. Finally, Activest Wealth Management grew its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective 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 dropped their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. BMO Capital Markets dropped their price objective 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, JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $226.23.

American Tower Trading Up 0.3 %

Shares of AMT opened at $185.53 on Tuesday. The firm has a market capitalization of $86.70 billion, a P/E ratio of 78.28, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s fifty day simple moving average is $190.58 and its 200 day simple moving average is $210.42.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 yield of 3.49%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Buying and Selling

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 value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

About American Tower

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.