Barton Investment Management Lowers Holdings in American Tower Co. (NYSE:AMT)

Barton Investment Management cut its stake in American Tower Co. (NYSE:AMT) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,051 shares of the real estate investment trust’s stock after selling 1,258 shares during the quarter. American Tower makes up approximately 1.7% of Barton Investment Management’s investment portfolio, making the stock its 12th largest position. Barton Investment Management’s holdings in American Tower were worth $15,966,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMT. CX Institutional increased its holdings in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 54 shares during the last quarter. Palumbo Wealth Management LLC raised its holdings in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares during the period. Rehmann Capital Advisory Group boosted its position in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC increased its holdings in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 58 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its position in American Tower by 5.3% in the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on AMT shares. Mizuho reduced their price objective 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. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Barclays decreased their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower Price Performance

American Tower stock opened at $187.53 on Thursday. The stock has a market capitalization of $87.63 billion, a PE ratio of 79.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The business has a 50 day simple moving average of $189.66 and a 200-day simple moving average of $210.06. 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 Announces Dividend

The firm also recently announced 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

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.