Northeast Investment Management Has $32.36 Million Holdings in American Tower Co. (NYSE:AMT)

Northeast Investment Management decreased its position in shares of American Tower Co. (NYSE:AMT) by 3.9% in the fourth quarter, Holdings Channel reports. The fund owned 176,436 shares of the real estate investment trust’s stock after selling 7,189 shares during the period. American Tower accounts for 1.4% of Northeast Investment Management’s investment portfolio, making the stock its 21st biggest holding. Northeast Investment Management’s holdings in American Tower were worth $32,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AMT. Empowered Funds LLC increased its stake in shares of American Tower by 17.7% in the fourth quarter. Empowered Funds LLC now owns 11,693 shares of the real estate investment trust’s stock worth $2,145,000 after purchasing an additional 1,758 shares during the period. Wilmington Savings Fund Society FSB increased its position in American Tower by 8.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 8,295 shares of the real estate investment trust’s stock worth $1,521,000 after buying an additional 626 shares during the period. Kingsview Wealth Management LLC lifted its holdings in shares of American Tower by 19.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 170,909 shares of the real estate investment trust’s stock worth $31,346,000 after buying an additional 27,251 shares during the last quarter. Vest Financial LLC boosted its position in shares of American Tower by 29.1% in the fourth quarter. Vest Financial LLC now owns 18,282 shares of the real estate investment trust’s stock valued at $3,353,000 after acquiring an additional 4,116 shares during the period. Finally, Cidel Asset Management Inc. grew its stake in shares of American Tower by 6.4% in the fourth quarter. Cidel Asset Management Inc. now owns 1,469 shares of the real estate investment trust’s stock worth $269,000 after acquiring an additional 88 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 0.4 %

Shares of American Tower stock opened at $188.91 on Friday. The stock has a market capitalization of $88.28 billion, a P/E ratio of 79.71, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a 12-month low of $170.46 and a 12-month 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. The company has a 50-day simple moving average of $188.44 and a 200 day simple moving average of $209.62.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.43%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analysts Set New Price Targets

Several research firms recently commented on AMT. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. JMP Securities initiated 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. Wells Fargo & Company lowered their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Barclays reduced their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Four equities research 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 stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, 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 available through this link. Insiders own 0.18% of the company’s stock.

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.