Hartford Investment Management Co. Has $5.29 Million Holdings in American Tower Co. (NYSE:AMT)

Hartford Investment Management Co. lessened its stake in shares of American Tower Co. (NYSE:AMT) by 1.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,823 shares of the real estate investment trust’s stock after selling 558 shares during the quarter. Hartford Investment Management Co.’s holdings in American Tower were worth $5,286,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AMT. Fortitude Family Office LLC increased its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management grew its stake in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 1.9 %

AMT opened at $193.45 on Wednesday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a market capitalization of $90.40 billion, a price-to-earnings ratio of 81.63, a P/E/G ratio of 1.27 and a beta of 0.84. The business has a 50 day moving average of $188.09 and a 200-day moving average of $209.49.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.35%. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays decreased their target price 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. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company decreased their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Company 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.