American Tower Co. (NYSE:AMT) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. cut its stake in American Tower Co. (NYSE:AMT) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 112,540 shares of the real estate investment trust’s stock after selling 3,801 shares during the period. Stock Yards Bank & Trust Co.’s holdings in American Tower were worth $20,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Czech National Bank raised its stake in American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the last quarter. Quent Capital LLC increased its holdings in shares of American Tower by 48.0% in the third quarter. Quent Capital LLC now owns 1,239 shares of the real estate investment trust’s stock valued at $287,000 after purchasing an additional 402 shares during the period. Handelsbanken Fonder AB raised its stake in shares of American Tower by 1.7% in the third quarter. Handelsbanken Fonder AB now owns 200,713 shares of the real estate investment trust’s stock worth $46,678,000 after purchasing an additional 3,418 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of American Tower by 34.4% during the third quarter. GAMMA Investing LLC now owns 6,871 shares of the real estate investment trust’s stock worth $1,598,000 after purchasing an additional 1,757 shares during the period. Finally, Diversified Trust Co boosted its position in American Tower by 66.8% in the third quarter. Diversified Trust Co now owns 4,750 shares of the real estate investment trust’s stock valued at $1,105,000 after buying an additional 1,902 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $184.91 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market cap of $86.41 billion, a PE ratio of 78.02, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The stock’s 50 day simple moving average is $190.58 and its 200-day simple moving average is $210.44.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of several research reports. Barclays decreased their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets cut 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. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $226.23.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower 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.