Tranquility Partners LLC Has $1.12 Million Position in American Tower Co. (NYSE:AMT)

Tranquility Partners LLC lowered its stake in American Tower Co. (NYSE:AMT) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,094 shares of the real estate investment trust’s stock after selling 498 shares during the quarter. Tranquility Partners LLC’s holdings in American Tower were worth $1,118,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in American Tower in the third quarter valued at approximately $30,000. Hara Capital LLC bought a new position in American Tower in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the third quarter worth $34,000. Finally, Activest Wealth Management lifted its position in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMT shares. BMO Capital Markets cut their price objective 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. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JMP Securities assumed coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Barclays decreased their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price target on shares of 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. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

American Tower Stock Down 2.0 %

Shares of NYSE AMT opened at $189.54 on Thursday. The company has a market capitalization of $88.57 billion, a P/E ratio of 79.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week 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 company’s 50 day moving average price is $187.80 and its 200-day moving average price is $209.34.

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 paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction 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 completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by company insiders.

About American Tower

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.