Pittenger & Anderson Inc. Has $14.33 Million Stake in American Tower Co. (NYSE:AMT)

Pittenger & Anderson Inc. decreased its position in American Tower Co. (NYSE:AMT) by 16.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,137 shares of the real estate investment trust’s stock after selling 15,497 shares during the quarter. Pittenger & Anderson Inc.’s holdings in American Tower were worth $14,331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMT. Palumbo Wealth Management LLC boosted its position in American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after acquiring an additional 57 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC boosted its position in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 58 shares during the last quarter. Fullcircle Wealth LLC boosted its position in American Tower by 1.2% during the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock valued at $1,123,000 after acquiring an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its position in American Tower by 5.8% during the fourth quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 0.3 %

NYSE:AMT opened at $189.41 on Monday. 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 firm has a market cap 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. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm has a 50-day moving average price of $186.70 and a two-hundred day moving average price of $208.71.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 yield of 3.42%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were 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 in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMT shares. Wells Fargo & Company dropped their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Citigroup dropped their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.79.

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.