American Tower Co. (NYSE:AMT) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in shares of American Tower Co. (NYSE:AMT) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 245,388 shares of the real estate investment trust’s stock after selling 5,678 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of American Tower worth $45,007,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CX Institutional raised its position in American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after acquiring an additional 54 shares in the last quarter. Palumbo Wealth Management LLC raised its position in American Tower by 1.6% in the third 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 in the last quarter. Rehmann Capital Advisory Group raised its position in American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 58 shares in the last quarter. Precedent Wealth Partners LLC raised its position in American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Finally, Fullcircle Wealth LLC raised its position in American Tower by 1.2% in the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after acquiring an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of several research reports. Citigroup dropped their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday. JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Barclays dropped 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. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their price target on 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 analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

American Tower Price Performance

Shares of AMT opened at $189.41 on Friday. The company has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50-day moving average is $187.05 and its 200-day moving average is $209.07.

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 issued a $1.62 dividend. 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 3.42%. American Tower’s dividend payout ratio is 273.42%.

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.