American Tower Co. (NYSE:AMT) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lessened its position in American Tower Co. (NYSE:AMT) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,164 shares of the real estate investment trust’s stock after selling 257 shares during the period. Transcend Capital Advisors LLC’s holdings in American Tower were worth $2,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Palumbo Wealth Management LLC lifted its stake 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 worth $864,000 after purchasing an additional 57 shares during the period. Rehmann Capital Advisory Group increased its stake in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted 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 worth $235,000 after buying an additional 58 shares during the period. Fullcircle Wealth LLC boosted its stake in American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

In other American Tower 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 value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $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 available through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. BMO Capital Markets cut 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. The Goldman Sachs Group lowered 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 note on Thursday, December 12th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company reduced their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $225.79.

American Tower Stock Performance

Shares of NYSE:AMT opened at $191.32 on Friday. The company has a market cap of $89.40 billion, a P/E ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The business’s 50-day simple moving average is $185.67 and its 200 day simple moving average is $207.64. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

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 given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.39%. American Tower’s payout ratio is currently 273.42%.

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.