Amalgamated Bank Decreases Stock Position in American Tower Co. (NYSE:AMT)

Amalgamated Bank trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 96,704 shares of the real estate investment trust’s stock after selling 1,301 shares during the quarter. Amalgamated Bank’s holdings in American Tower were worth $17,736,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Hara Capital LLC bought a new position in American Tower in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in American Tower in the 3rd quarter worth about $34,000. Activest Wealth Management grew its stake in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. Finally, Roxbury Financial LLC bought a new position in shares of American Tower during the fourth quarter valued at approximately $32,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMT shares. The Goldman Sachs Group decreased their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Barclays reduced their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Morgan Stanley reduced their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Finally, StockNews.com cut shares of 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $227.00.

American Tower Trading Up 0.2 %

NYSE AMT opened at $191.88 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market capitalization of $89.66 billion, a PE ratio of 80.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The firm has a 50 day moving average of $185.63 and a two-hundred day moving average of $207.14.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) 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.