Yousif Capital Management LLC Sells 2,640 Shares of American Tower Co. (NYSE:AMT)

Yousif Capital Management LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,710 shares of the real estate investment trust’s stock after selling 2,640 shares during the quarter. Yousif Capital Management LLC’s holdings in American Tower were worth $13,886,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional grew its stake in shares of American Tower by 2.9% in the 3rd 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 boosted its holdings in American Tower by 1.6% during the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 57 shares during the last quarter. Rehmann Capital Advisory Group grew its position in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC increased its stake in American Tower by 4.7% in the 4th 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 during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in shares of American Tower by 5.3% in the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after buying an additional 59 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMT. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Mizuho lowered 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. Barclays cut their price target 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. JMP Securities assumed coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insider Activity at American Tower

In other American Tower 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 value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $184.21 on Wednesday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a fifty day moving average of $190.14 and a 200-day moving average of $210.25. 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 stock has a market cap of $86.08 billion, a PE ratio of 77.73, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.52%. American Tower’s dividend payout ratio (DPR) 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.