Yousif Capital Management LLC Lowers Stock Position in American Tower Co. (NYSE:AMT)

Yousif Capital Management LLC lessened its stake in American Tower Co. (NYSE:AMT) by 3.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 75,710 shares of the real estate investment trust’s stock after selling 2,640 shares during the quarter. Yousif Capital Management LLC’s holdings in American Tower were worth $13,886,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CX Institutional raised its position in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares in the last quarter. Palumbo Wealth Management LLC increased 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 valued at $864,000 after purchasing an additional 57 shares during the last quarter. Rehmann Capital Advisory Group lifted its position in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC grew 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. Finally, Sivia Capital Partners LLC raised its stake in shares of American Tower by 5.3% during the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank lowered their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Finally, Barclays decreased 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. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Price Performance

Shares of NYSE AMT opened at $184.21 on Wednesday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company’s 50-day moving average is $190.14 and its 200 day moving average is $210.25. The stock has a market capitalization of $86.08 billion, a P/E ratio of 77.73, a P/E/G ratio of 1.24 and a beta of 0.84.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is presently 273.42%.

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.