Y.D. More Investments Ltd Sells 133 Shares of American Tower Co. (NYSE:AMT)

Y.D. More Investments Ltd trimmed its stake in shares of American Tower Co. (NYSE:AMT) by 40.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199 shares of the real estate investment trust’s stock after selling 133 shares during the quarter. Y.D. More Investments Ltd’s holdings in American Tower were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMT. Fortitude Family Office LLC grew its stake in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of American Tower during the third quarter worth approximately $30,000. Hara Capital LLC acquired a new position in shares of American Tower in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the third quarter worth approximately $34,000. Finally, Activest Wealth Management lifted its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AMT. Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

American Tower Trading Up 1.2 %

Shares of AMT opened at $189.69 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The firm has a market cap of $88.64 billion, a price-to-earnings ratio of 80.04, a PEG ratio of 1.24 and a beta of 0.84. The business’s fifty day moving average is $189.23 and its 200-day moving average is $209.91.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Insider Transactions at American Tower

In related 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 transaction of $3,000,283.70. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Company 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.