AustralianSuper Pty Ltd Reduces Holdings in American Tower Co. (NYSE:AMT)

AustralianSuper Pty Ltd decreased its holdings in American Tower Co. (NYSE:AMT) by 98.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,747 shares of the real estate investment trust’s stock after selling 1,001,850 shares during the quarter. AustralianSuper Pty Ltd’s holdings in American Tower were worth $2,338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in American Tower during the third quarter valued at approximately $30,000. Hara Capital LLC purchased a new position in American Tower during the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter valued at approximately $34,000. Finally, Activest Wealth Management lifted its holdings in American Tower by 431.0% during the third 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 in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Down 0.3 %

Shares of AMT opened at $189.41 on Friday. 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 fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a market capitalization of $88.51 billion, a PE ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84. The company’s fifty day moving average is $186.70 and its 200 day moving average is $208.89.

American Tower Announces Dividend

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

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AMT shares. JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Scotiabank lowered their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. Barclays lowered their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average price target of $225.79.

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.