Ieq Capital LLC Lowers Stake in American Tower Co. (NYSE:AMT)

Ieq Capital LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,020 shares of the real estate investment trust’s stock after selling 1,087 shares during the quarter. Ieq Capital LLC’s holdings in American Tower were worth $3,489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMT. Fortitude Family Office LLC increased its position in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Hara Capital LLC bought a new position in American Tower during the 3rd quarter valued at approximately $31,000. Roxbury Financial LLC bought a new stake in shares of American Tower in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the third quarter valued at approximately $34,000. Finally, Activest Wealth Management lifted its stake in American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on 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 owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

Shares of AMT opened at $191.32 on Friday. 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 market cap of $89.40 billion, a PE ratio of 80.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm’s 50-day simple moving average is $185.67 and its two-hundred day simple moving average is $207.49.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. American Tower’s payout ratio is currently 273.42%.

Analyst Ratings Changes

Several brokerages have commented on AMT. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup reduced their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.79.

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.