Focus Financial Network Inc. Reduces Position in American Tower Co. (NYSE:AMT)

Focus Financial Network Inc. cut its stake in shares of American Tower Co. (NYSE:AMT) by 43.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,804 shares of the real estate investment trust’s stock after selling 1,368 shares during the quarter. Focus Financial Network Inc.’s holdings in American Tower were worth $331,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Summit Trail Advisors LLC grew its holdings in shares of American Tower by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 6,412 shares of the real estate investment trust’s stock valued at $1,186,000 after buying an additional 87 shares during the last quarter. Principle Wealth Partners LLC lifted its position in American Tower by 4.0% during the fourth quarter. Principle Wealth Partners LLC now owns 4,162 shares of the real estate investment trust’s stock valued at $763,000 after purchasing an additional 160 shares during the period. Arlington Trust Co LLC lifted its position in American Tower by 19.2% during the fourth quarter. Arlington Trust Co LLC now owns 1,395 shares of the real estate investment trust’s stock valued at $256,000 after purchasing an additional 225 shares during the period. Equitable Trust Co. lifted its position in American Tower by 86.0% during the fourth quarter. Equitable Trust Co. now owns 22,399 shares of the real estate investment trust’s stock valued at $4,108,000 after purchasing an additional 10,354 shares during the period. Finally, Ferguson Wellman Capital Management Inc. lifted its position in American Tower by 20.9% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 4,247 shares of the real estate investment trust’s stock valued at $779,000 after purchasing an additional 735 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’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 completion of the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 0.2 %

AMT opened at $189.90 on Friday. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a 50-day moving average price of $187.44 and a 200 day moving average price of $209.20. The company has a market cap of $88.74 billion, a PE ratio of 80.13, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The business also recently declared 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. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Ratings Changes

AMT has been the subject of a number of research reports. Barclays decreased their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Mizuho decreased 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. Finally, BMO Capital Markets decreased 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 report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

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.