American Tower Co. (NYSE:AMT) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,593 shares of the real estate investment trust’s stock after selling 127 shares during the period. Appleton Partners Inc. MA’s holdings in American Tower were worth $4,511,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Performance

NYSE AMT opened at $188.91 on Friday. 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 company has a market capitalization of $88.28 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The business’s 50-day moving average price is $188.84 and its 200 day moving average price is $209.77. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.43%. American Tower’s dividend payout ratio is presently 273.42%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AMT. Scotiabank dropped their price objective 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. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays lowered their price objective 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. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $226.23.

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.