W.G. Shaheen & Associates DBA Whitney & Co Lowers Position in American Tower Co. (NYSE:AMT)

W.G. Shaheen & Associates DBA Whitney & Co trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,012 shares of the real estate investment trust’s stock after selling 1,126 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in American Tower were worth $4,771,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in American Tower by 15.3% during the third quarter. Assenagon Asset Management S.A. now owns 16,857 shares of the real estate investment trust’s stock valued at $3,920,000 after purchasing an additional 2,233 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of American Tower by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,499 shares of the real estate investment trust’s stock valued at $11,170,000 after buying an additional 4,040 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of American Tower by 4.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,737 shares of the real estate investment trust’s stock worth $404,000 after acquiring an additional 67 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in American Tower by 0.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 282,469 shares of the real estate investment trust’s stock worth $65,691,000 after acquiring an additional 2,470 shares in the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in American Tower by 12.8% in the third quarter. Frank Rimerman Advisors LLC now owns 4,098 shares of the real estate investment trust’s stock valued at $953,000 after acquiring an additional 465 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Down 0.5 %

Shares of NYSE:AMT opened at $191.32 on Monday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. 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 stock’s 50-day moving average is $185.67 and its 200 day moving average is $207.36. The company has a market cap of $89.40 billion, a PE ratio of 80.73, a P/E/G ratio of 1.29 and a beta of 0.84.

American Tower Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AMT shares. Citigroup dropped their price target 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. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Mizuho decreased 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 note on Wednesday, January 8th. Finally, BMO Capital Markets cut their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.79.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

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.