New York State Common Retirement Fund Sells 915 Shares of American Tower Co. (NYSE:AMT)

New York State Common Retirement Fund lowered its position in shares of American Tower Co. (NYSE:AMT) by 0.2% in the 4th quarter, HoldingsChannel reports. The firm owned 577,592 shares of the real estate investment trust’s stock after selling 915 shares during the quarter. New York State Common Retirement Fund’s holdings in American Tower were worth $105,936,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Balentine LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $586,000. Nordea Investment Management AB lifted its stake in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of American Tower in the 3rd quarter valued at about $1,156,000. Brookstone Capital Management lifted its stake in shares of American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares during the last quarter. Finally, TigerOak Management L.L.C. bought a new stake in shares of American Tower in the 4th quarter valued at about $1,102,000. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Down 0.5 %

AMT stock opened at $188.55 on Thursday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The business’s 50 day moving average price is $185.89 and its two-hundred day moving average price is $207.99. 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 company has a market capitalization of $88.11 billion, a price-to-earnings ratio of 79.56, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.44%. American Tower’s payout ratio is currently 273.42%.

Analyst Ratings Changes

AMT has been the subject of a number of recent research reports. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group reduced their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays reduced 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. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.79.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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.