Csenge Advisory Group Has $764,000 Stake in American Tower Co. (NYSE:AMT)

Csenge Advisory Group decreased its position in American Tower Co. (NYSE:AMT) by 29.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,165 shares of the real estate investment trust’s stock after selling 1,711 shares during the quarter. Csenge Advisory Group’s holdings in American Tower were worth $764,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMT. Fortitude Family Office LLC grew its position in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in American Tower during the third quarter worth approximately $30,000. Hara Capital LLC acquired a new stake in American Tower during the third quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in American Tower during the third quarter worth approximately $34,000. Finally, Activest Wealth Management grew its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $189.41 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The business has a 50-day moving average price of $186.70 and a two-hundred day moving average price of $208.71. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The company has a market cap of $88.51 billion, a P/E ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

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

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price 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. BMO Capital Markets cut 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. Scotiabank cut their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup dropped their price target on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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.