Impax Asset Management Group plc Reduces Holdings in American Tower Co. (NYSE:AMT)

Impax Asset Management Group plc trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,242 shares of the real estate investment trust’s stock after selling 683 shares during the period. Impax Asset Management Group plc’s holdings in American Tower were worth $6,097,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC increased its stake in shares of American Tower by 269.0% during 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. Hara Capital LLC purchased a new position in shares of American Tower during the 3rd quarter worth approximately $31,000. Roxbury Financial LLC purchased a new position in shares of American Tower during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management increased its stake in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 0.2 %

Shares of AMT opened at $191.88 on Tuesday. The firm has a market cap of $89.66 billion, a PE ratio of 80.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company’s fifty day moving average is $185.63 and its two-hundred day moving average is $207.14. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. 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 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. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMT. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Morgan Stanley lowered their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a research note on Monday. The Goldman Sachs Group lowered their target price 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. Finally, Scotiabank lowered their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $227.00.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is 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.