Sanctuary Advisors LLC Trims Stake in American Tower Co. (NYSE:AMT)

Sanctuary Advisors LLC lessened its position in shares of American Tower Co. (NYSE:AMT) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,285 shares of the real estate investment trust’s stock after selling 1,020 shares during the quarter. Sanctuary Advisors LLC’s holdings in American Tower were worth $8,229,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new stake in American Tower during the 3rd quarter worth $30,000. Oakworth Capital Inc. raised its holdings in shares of American Tower by 85.7% in the third quarter. Oakworth Capital Inc. now owns 390 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 180 shares during the last quarter. Signaturefd LLC boosted its stake in shares of American Tower by 7.9% during the third quarter. Signaturefd LLC now owns 8,004 shares of the real estate investment trust’s stock worth $1,861,000 after buying an additional 585 shares during the period. BLB&B Advisors LLC grew its holdings in shares of American Tower by 5.2% during the third quarter. BLB&B Advisors LLC now owns 1,813 shares of the real estate investment trust’s stock worth $422,000 after buying an additional 89 shares during the last quarter. Finally, Weaver Capital Management LLC increased its position in American Tower by 2.7% in the 3rd quarter. Weaver Capital Management LLC now owns 8,901 shares of the real estate investment trust’s stock valued at $2,070,000 after acquiring an additional 233 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $188.55 on Thursday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $88.11 billion, a PE ratio of 79.56, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a fifty day moving average price of $185.89 and a 200 day moving average price of $207.99.

American Tower Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.44%. American Tower’s dividend payout ratio is presently 273.42%.

Insider Activity at American Tower

In other American Tower 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AMT has been the topic of several analyst reports. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company dropped their price objective on shares of 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. Citigroup reduced their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. BMO Capital Markets dropped their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price objective 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. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

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.