Conscious Wealth Investments LLC Sells 425 Shares of American Tower Co. (NYSE:AMT)

Conscious Wealth Investments LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 3.1% in the fourth quarter, Holdings Channel reports. The firm owned 13,367 shares of the real estate investment trust’s stock after selling 425 shares during the quarter. Conscious Wealth Investments LLC’s holdings in American Tower were worth $2,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Palumbo Wealth Management LLC grew its holdings in shares of American Tower by 1.6% in 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 acquiring an additional 57 shares in the last quarter. Rehmann Capital Advisory Group boosted its position in American Tower by 4.2% during 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 grew its stake in American Tower by 4.7% in 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 purchasing an additional 58 shares in the last quarter. Fullcircle Wealth LLC increased its position in shares of American Tower by 1.2% during the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Citigroup decreased their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Mizuho dropped their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Trading Down 0.5 %

Shares of American Tower stock opened at $191.32 on Monday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a market cap of $89.40 billion, a PE ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84. The firm has a 50-day moving average of $185.67 and a 200-day moving average of $207.36. 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 firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 presently 273.42%.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly 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 filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

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.