Pinnacle Wealth Management Advisory Group LLC Lowers Position in American Tower Co. (NYSE:AMT)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,243 shares of the real estate investment trust’s stock after selling 262 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in American Tower were worth $228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AMT. FMR LLC raised its holdings in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC boosted its stake in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after acquiring an additional 993,061 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after acquiring an additional 775,379 shares during the period. Finally, State Street Corp boosted its position in American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMT shares. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Barclays cut their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets lowered their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Citigroup cut their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.79.

American Tower Stock Down 0.3 %

AMT stock opened at $189.41 on Tuesday. The company’s 50 day moving average is $186.70 and its 200 day moving average is $208.71. The stock has a market cap of $88.51 billion, a price-to-earnings ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower Announces Dividend

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

Insider Transactions at American Tower

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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by 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.