Capital Advisors Ltd. LLC Decreases Holdings in American Tower Co. (NYSE:AMT)

Capital Advisors Ltd. LLC trimmed its holdings in shares of American Tower Co. (NYSE:AMT) by 6.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,423 shares of the real estate investment trust’s stock after selling 103 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in American Tower were worth $261,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in AMT. Assenagon Asset Management S.A. raised its position in shares of American Tower by 15.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 16,857 shares of the real estate investment trust’s stock valued at $3,920,000 after buying an additional 2,233 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in American Tower by 9.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,499 shares of the real estate investment trust’s stock valued at $11,170,000 after purchasing an additional 4,040 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in American Tower by 4.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,737 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 67 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in American Tower by 12.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 4,098 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 465 shares during the last quarter. Finally, Ellis Investment Partners LLC bought a new position in American Tower during the 3rd quarter valued at about $233,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 directly owns 62,792 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE AMT opened at $191.88 on Tuesday. 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 firm’s 50 day moving average price is $185.63 and its 200-day moving average price is $207.14. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a market cap of $89.66 billion, a PE ratio of 80.96, a P/E/G ratio of 1.29 and a beta of 0.84.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. American Tower’s dividend payout ratio is presently 273.42%.

Analyst Ratings Changes

Several equities analysts recently commented on AMT shares. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Morgan Stanley cut their price target on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a report on Monday. Mizuho cut their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average price target of $227.00.

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.