Triasima Portfolio Management inc. Has $1.99 Million Stock Position in American Tower Co. (NYSE:AMT)

Triasima Portfolio Management inc. lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 37.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,850 shares of the real estate investment trust’s stock after selling 6,405 shares during the quarter. Triasima Portfolio Management inc.’s holdings in American Tower were worth $1,990,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC boosted its position in shares of 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 acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the third quarter valued at $30,000. Hara Capital LLC bought a new position in shares of American Tower during the third quarter valued at $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the third quarter valued at $34,000. Finally, Activest Wealth Management lifted its stake in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMT. Barclays cut their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. 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 research report on Wednesday, January 8th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. The Goldman Sachs Group reduced their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Wells Fargo & Company lowered their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. 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 company. According to data from MarketBeat.com, American Tower presently has a consensus 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 American Tower stock in a transaction on 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 owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $189.69 on Friday. The stock has a market cap of $88.64 billion, a PE ratio of 80.04, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a fifty day moving average of $188.84 and a 200-day moving average of $209.77.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

About American Tower

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.