Northcape Wealth Management LLC Sells 58 Shares of American Tower Co. (NYSE:AMT)

Northcape Wealth Management LLC reduced its stake in American Tower Co. (NYSE:AMT) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,562 shares of the real estate investment trust’s stock after selling 58 shares during the period. Northcape Wealth Management LLC’s holdings in American Tower were worth $1,937,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC grew its stake in 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 worth $25,000 after purchasing an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the 3rd quarter worth $30,000. Hara Capital LLC bought a new position in shares of American Tower during the 3rd quarter worth $31,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the fourth quarter valued at $32,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the third quarter valued at about $34,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 0.2 %

NYSE:AMT opened at $189.75 on Wednesday. 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 twelve month low of $170.46 and a twelve month high of $243.56. The company has a market cap of $88.67 billion, a PE ratio of 80.06, a P/E/G ratio of 1.27 and a beta of 0.84. The company’s 50 day moving average is $186.11 and its two-hundred day moving average is $208.12.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AMT. The Goldman Sachs Group cut their target price 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. Wells Fargo & Company reduced their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Mizuho cut their target price 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. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average target price of $225.79.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.