Ninety One SA PTY Ltd Reduces Stock Holdings in American Tower Co. (NYSE:AMT)

Ninety One SA PTY Ltd cut its holdings in American Tower Co. (NYSE:AMT) by 20.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,419 shares of the real estate investment trust’s stock after selling 4,792 shares during the quarter. Ninety One SA PTY Ltd’s holdings in American Tower were worth $3,378,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC boosted its stake in American Tower by 269.0% in the 3rd 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 acquired a new stake in shares of American Tower during the third quarter worth $30,000. Hara Capital LLC purchased a new stake in shares of American Tower during the third quarter valued at $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $34,000. Finally, Activest Wealth Management raised its stake in American Tower by 431.0% in the 3rd 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 last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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 at this link. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Down 0.6 %

Shares of AMT opened at $184.21 on Wednesday. The firm has a market cap of $86.08 billion, a P/E ratio of 77.73, a PEG ratio of 1.24 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock’s 50 day moving average is $190.14 and its two-hundred day moving average is $210.25. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.52%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AMT shares. Barclays cut their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered 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 report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

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.