American Tower Co. (NYSE:AMT) Shares Sold by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC reduced its stake in shares of American Tower Co. (NYSE:AMT) by 7.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 4,146 shares of the real estate investment trust’s stock after selling 311 shares during the quarter. Accretive Wealth Partners LLC’s holdings in American Tower were worth $760,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AMT. CX Institutional grew its holdings in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 54 shares in the last quarter. Creative Planning grew its holdings in American Tower by 7.1% during the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after acquiring an additional 4,999 shares in the last quarter. SPC Financial Inc. grew its holdings in American Tower by 4.1% during the 3rd quarter. SPC Financial Inc. now owns 3,071 shares of the real estate investment trust’s stock worth $714,000 after acquiring an additional 120 shares in the last quarter. Good Life Advisors LLC acquired a new position in American Tower during the 3rd quarter worth $201,000. Finally, Global Retirement Partners LLC grew its holdings in American Tower by 4.4% during the 3rd quarter. Global Retirement Partners LLC now owns 8,010 shares of the real estate investment trust’s stock worth $1,863,000 after acquiring an additional 338 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of a number of recent research reports. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Citigroup reduced their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.79.

American Tower Stock Down 0.3 %

AMT stock opened at $189.41 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The firm’s 50-day moving average is $187.05 and its two-hundred day moving average is $209.07. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

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.