Boston Financial Mangement LLC Decreases Position in American Tower Co. (NYSE:AMT)

Boston Financial Mangement LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,546 shares of the real estate investment trust’s stock after selling 27,068 shares during the quarter. Boston Financial Mangement LLC’s holdings in American Tower were worth $21,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC grew its position in American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC purchased a new position in shares of American Tower during the third quarter worth $31,000. Roxbury Financial LLC acquired a new position in American Tower during the fourth quarter valued at $32,000. Finally, Legacy Investment Solutions LLC purchased a new stake in American Tower in the third quarter valued at $34,000. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on AMT. Barclays lowered their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. BMO Capital Markets reduced their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $225.79.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

NYSE:AMT opened at $188.55 on Thursday. The stock has a 50 day moving average price of $185.89 and a 200 day moving average price of $207.99. 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. 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 Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 3.44%. American Tower’s payout ratio is 273.42%.

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.