Conscious Wealth Investments LLC Has $2.55 Million Stake in American Tower Co. (NYSE:AMT)

Conscious Wealth Investments LLC lowered its stake in American Tower Co. (NYSE:AMT) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,367 shares of the real estate investment trust’s stock after selling 425 shares during the period. Conscious Wealth Investments LLC’s holdings in American Tower were worth $2,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fortitude Family Office LLC boosted its position 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. Hara Capital LLC acquired a new position in shares of American Tower during the third quarter valued at $31,000. Roxbury Financial LLC bought a new position in American Tower in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the third quarter worth about $34,000. Finally, Activest Wealth Management raised 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. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related 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 value of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMT. Mizuho reduced their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Citigroup decreased their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $225.79.

American Tower Trading Down 0.5 %

NYSE:AMT opened at $191.32 on Monday. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50-day simple moving average is $185.67 and its 200-day simple moving average is $207.36. 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 market capitalization of $89.40 billion, a PE ratio of 80.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

American Tower Profile

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.