TBH Global Asset Management LLC Sells 100 Shares of American Tower Co. (NYSE:AMT)

TBH Global Asset Management LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 2,437 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. TBH Global Asset Management LLC’s holdings in American Tower were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Balentine LLC bought a new stake in American Tower in the third quarter worth about $586,000. Nordea Investment Management AB lifted its stake in American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in American Tower during the third quarter valued at $1,156,000. Brookstone Capital Management increased its position in American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares during the last quarter. Finally, TigerOak Management L.L.C. bought a new stake in shares of American Tower in the fourth quarter valued at $1,102,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on AMT. Citigroup decreased their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays dropped their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $225.79.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by company insiders.

American Tower Trading Down 0.5 %

Shares of AMT opened at $188.55 on Thursday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $88.11 billion, a P/E ratio of 79.56, a P/E/G ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s 50 day simple moving average is $185.89 and its 200 day simple moving average is $207.99.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

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.