American Tower Co. (NYSE:AMT) Shares Sold by MTM Investment Management LLC

MTM Investment Management LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 2.1% during the fourth quarter, HoldingsChannel reports. The firm owned 5,431 shares of the real estate investment trust’s stock after selling 117 shares during the period. MTM Investment Management LLC’s holdings in American Tower were worth $996,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMT. Fortitude Family Office LLC lifted its stake in shares of 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 worth $25,000 after acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the third quarter worth about $30,000. Hara Capital LLC acquired a new position in shares of American Tower in the third quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower in the third quarter worth about $34,000. Finally, Activest Wealth Management lifted its stake 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 acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AMT. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets cut their price objective 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. Wells Fargo & Company cut their price objective on 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. Mizuho cut their price objective on 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, Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Four investment 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. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Stock Down 2.0 %

NYSE:AMT opened at $189.54 on Thursday. The firm has a market capitalization of $88.57 billion, a PE ratio of 79.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The stock has a 50 day moving average of $187.80 and a 200-day moving average of $209.34. American Tower Co. has a 52 week low of $170.46 and a 52 week 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.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.