American Tower Co. (NYSE:AMT) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. reduced its holdings in American Tower Co. (NYSE:AMT) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,331 shares of the real estate investment trust’s stock after selling 1,560 shares during the period. Atria Wealth Solutions Inc.’s holdings in American Tower were worth $2,821,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp grew its stake in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares during the period. Geode Capital Management LLC lifted its holdings in American Tower by 1.9% during the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares in the last quarter. FMR LLC grew its position in shares of American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after purchasing an additional 243,061 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after purchasing an additional 38,436 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMT. Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Citigroup reduced their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Barclays lowered their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $225.79.

American Tower Trading Down 0.5 %

Shares of American Tower stock opened at $191.32 on Friday. The stock has a 50 day moving average of $185.67 and a 200 day moving average of $207.64. 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 capitalization of $89.40 billion, a price-to-earnings ratio of 80.73, a PEG ratio of 1.27 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’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 value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

American Tower 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.