American Tower Co. (NYSE:AMT) Shares Sold by Wealth Alliance

Wealth Alliance reduced its position in shares of American Tower Co. (NYSE:AMT) by 18.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,909 shares of the real estate investment trust’s stock after selling 887 shares during the period. Wealth Alliance’s holdings in American Tower were worth $717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Corps Capital Advisors LLC purchased a new position in shares of American Tower in the fourth quarter valued at approximately $315,000. Private Advisor Group LLC boosted its stake in shares of American Tower by 54.5% in the fourth quarter. Private Advisor Group LLC now owns 128,880 shares of the real estate investment trust’s stock valued at $23,638,000 after purchasing an additional 45,452 shares during the period. Bank of Jackson Hole Trust purchased a new position in shares of American Tower in the fourth quarter valued at approximately $46,000. Mcdonald Partners LLC boosted its stake in shares of American Tower by 3.7% in the fourth quarter. Mcdonald Partners LLC now owns 7,055 shares of the real estate investment trust’s stock valued at $1,294,000 after purchasing an additional 250 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of American Tower by 1.1% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,975 shares of the real estate investment trust’s stock valued at $2,563,000 after purchasing an additional 146 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AMT shares. Scotiabank reduced their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company cut their price objective 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. Finally, Barclays cut their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $225.79.

American Tower Trading Up 2.1 %

NYSE:AMT opened at $192.51 on Friday. The company has a market capitalization of $89.96 billion, a PE ratio of 81.23, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a fifty day simple moving average of $185.78 and a 200-day simple moving average of $207.88.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 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.