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

Sanctuary Advisors LLC trimmed its position in 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 44,285 shares of the real estate investment trust’s stock after selling 1,020 shares during the quarter. Sanctuary Advisors LLC’s holdings in American Tower were worth $8,229,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its position in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Adelante Capital Management LLC increased its position in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares during the period. International Assets Investment Management LLC lifted its position in American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares during the last quarter. Finally, State Street Corp boosted its stake in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity

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 stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

American Tower stock opened at $188.55 on Thursday. The stock has a market cap of $88.11 billion, a P/E ratio of 79.56, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a fifty day simple moving average of $185.89 and a 200-day simple moving average of $207.99. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.44%. American Tower’s dividend payout ratio is currently 273.42%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMT shares. Wells Fargo & Company decreased their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. JMP Securities started coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, 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 research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

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.