American Tower Co. (NYSE:AMT) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its stake in American Tower Co. (NYSE:AMT) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,164 shares of the real estate investment trust’s stock after selling 257 shares during the period. Transcend Capital Advisors LLC’s holdings in American Tower were worth $2,048,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Palumbo Wealth Management LLC raised its stake in shares of American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings 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 valued at $332,000 after buying an additional 58 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in American Tower by 4.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares in the last quarter. Fullcircle Wealth LLC lifted its holdings in American Tower by 1.2% during the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 61 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its position in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 61 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Barclays dropped their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Finally, BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and an average price target of $225.79.

American Tower Stock Down 0.5 %

Shares of American Tower stock opened at $191.32 on Friday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market capitalization of $89.40 billion, a P/E ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84. The business’s fifty day moving average price is $185.67 and its two-hundred day moving average price is $207.64. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 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.