Klingenstein Fields & Co. LP Lowers Position in American Tower Co. (NYSE:AMT)

Klingenstein Fields & Co. LP lessened its position in American Tower Co. (NYSE:AMT) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 138,774 shares of the real estate investment trust’s stock after selling 883 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in American Tower were worth $25,453,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMT. Asset Planning Inc bought a new position in shares of American Tower during the fourth quarter valued at about $49,000. V Square Quantitative Management LLC grew its stake in shares of American Tower by 5.7% during the fourth quarter. V Square Quantitative Management LLC now owns 10,664 shares of the real estate investment trust’s stock valued at $1,956,000 after buying an additional 575 shares during the last quarter. Values Added Financial LLC grew its stake in shares of American Tower by 41.3% during the fourth quarter. Values Added Financial LLC now owns 1,878 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 549 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of American Tower by 3.4% in the fourth quarter. Vontobel Holding Ltd. now owns 1,074,318 shares of the real estate investment trust’s stock worth $197,041,000 after purchasing an additional 35,149 shares during the last quarter. Finally, Bogart Wealth LLC grew its stake in shares of American Tower by 19.6% in the fourth quarter. Bogart Wealth LLC now owns 35,869 shares of the real estate investment trust’s stock worth $6,579,000 after purchasing an additional 5,869 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other 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 completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.2 %

NYSE:AMT opened at $189.90 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a market cap of $88.74 billion, a PE ratio of 80.13, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a 50 day simple moving average of $187.44 and a two-hundred day simple moving average of $209.20.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Finally, Barclays lowered their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

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.