American Tower Co. (NYSE:AMT) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. lowered its stake in shares of American Tower Co. (NYSE:AMT) by 56.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171 shares of the real estate investment trust’s stock after selling 219 shares during the quarter. Oakworth Capital Inc.’s holdings in American Tower were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMT. Balentine LLC bought a new stake in shares of American Tower in the 3rd quarter worth about $586,000. Nordea Investment Management AB increased its holdings in 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 buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in American Tower during the third quarter valued at approximately $1,156,000. Brookstone Capital Management lifted its holdings in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying 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 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after acquiring an additional 22,523 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. 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. BMO Capital Markets lowered their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insiders Place Their Bets

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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

American Tower Stock Up 1.2 %

American Tower stock opened at $189.69 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market cap of $88.64 billion, a price-to-earnings ratio of 80.04, a PEG ratio of 1.24 and a beta of 0.84. The company’s 50-day moving average price is $189.23 and its two-hundred day moving average price is $209.91. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued 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 3.42%. American Tower’s payout ratio is 273.42%.

American Tower 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.