Crestwood Advisors Group LLC Decreases Stock Holdings in American Tower Co. (NYSE:AMT)

Crestwood Advisors Group LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,245 shares of the real estate investment trust’s stock after selling 549 shares during the period. Crestwood Advisors Group LLC’s holdings in American Tower were worth $3,713,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Palumbo Wealth Management LLC boosted its position in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake 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 worth $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC boosted its holdings in American Tower by 4.7% in 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 purchasing an additional 58 shares in the last quarter. Fullcircle Wealth LLC increased its stake in American Tower by 1.2% in 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 purchasing an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its holdings 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 worth $206,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, 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 legal filing with the SEC, which is available through this link. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group dropped their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Morgan Stanley reduced their target price on American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday. Finally, BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.00.

American Tower Trading Up 0.2 %

NYSE:AMT opened at $191.88 on Tuesday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s 50 day simple moving average is $185.63 and its 200-day simple moving average is $207.14. The firm has a market cap of $89.66 billion, a P/E ratio of 80.96, a PEG ratio of 1.29 and a beta of 0.84.

American Tower Dividend Announcement

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 was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.38%. American Tower’s dividend payout ratio is currently 273.42%.

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.