Choreo LLC Reduces Stock Holdings in American Tower Co. (NYSE:AMT)

Choreo LLC lowered its position in shares of American Tower Co. (NYSE:AMT) by 15.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,811 shares of the real estate investment trust’s stock after selling 2,371 shares during the period. Choreo LLC’s holdings in American Tower were worth $2,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in American Tower by 17.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,915 shares of the real estate investment trust’s stock valued at $10,352,000 after buying an additional 8,416 shares during the period. Jericho Financial LLP purchased a new position in American Tower during the fourth quarter valued at $2,131,000. Lockheed Martin Investment Management Co. lifted its position in American Tower by 2.0% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 24,880 shares of the real estate investment trust’s stock valued at $4,563,000 after buying an additional 480 shares during the period. Stratos Investment Management LLC lifted its position in American Tower by 22.6% during the fourth quarter. Stratos Investment Management LLC now owns 1,450 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 267 shares during the period. Finally, Stratos Wealth Advisors LLC lifted its position in American Tower by 10.6% during the fourth quarter. Stratos Wealth Advisors LLC now owns 2,001 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays lowered their price objective 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. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company reduced 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 equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $226.23.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

NYSE AMT opened at $189.69 on Friday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The stock has a 50-day moving average of $189.23 and a 200 day moving average of $209.91. The company has a market capitalization of $88.64 billion, a price-to-earnings ratio of 80.04, a PEG ratio of 1.24 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.42%. 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.