American Tower Co. (NYSE:AMT) Shares Sold by Ledyard National Bank

Ledyard National Bank lessened its stake in American Tower Co. (NYSE:AMT) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,543 shares of the real estate investment trust’s stock after selling 119 shares during the period. Ledyard National Bank’s holdings in American Tower were worth $1,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after purchasing an additional 635,726 shares during the period. Geode Capital Management LLC boosted its holdings in shares of American Tower by 1.9% in the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after acquiring an additional 204,426 shares during the period. FMR LLC boosted its holdings in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after acquiring an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of American Tower by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after acquiring an additional 38,436 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the topic of several research reports. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Mizuho lowered their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank reduced their price objective on 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. Barclays lowered their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company cut their price target on 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. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $226.23.

American Tower Trading Up 1.2 %

NYSE:AMT opened at $189.69 on Friday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a fifty day moving average price of $189.23 and a two-hundred day moving average price of $209.91. The stock has a market capitalization of $88.64 billion, a price-to-earnings ratio of 80.04, a PEG ratio of 1.24 and a beta of 0.84.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders 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 3.42%. American Tower’s dividend payout ratio is presently 273.42%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is owned by 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.