Bradley Foster & Sargent Inc. CT Sells 167 Shares of American Tower Co. (NYSE:AMT)

Bradley Foster & Sargent Inc. CT trimmed its position in American Tower Co. (NYSE:AMT) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 6,673 shares of the real estate investment trust’s stock after selling 167 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in American Tower were worth $1,224,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Balentine LLC bought a new position in American Tower during the 3rd quarter worth $586,000. Nordea Investment Management AB raised its position in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in American Tower during the 3rd quarter worth $1,156,000. TigerOak Management L.L.C. bought a new position in American Tower during the 4th quarter worth $1,102,000. Finally, Brookstone Capital Management raised its position in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 1,995 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the subject of several analyst reports. Barclays lowered their target price on 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 price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four research 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 stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $225.79.

American Tower Stock Performance

Shares of AMT opened at $191.32 on Friday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a 50-day moving average of $185.67 and a 200-day moving average of $207.49. The company has a market cap of $89.40 billion, a PE ratio of 80.73, a P/E/G 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.

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. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.39%. American Tower’s dividend payout ratio is presently 273.42%.

Insider Activity

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 stock was 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

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.