Lecap Asset Management Ltd. Sells 2,578 Shares of American Tower Co. (NYSE:AMT)

Lecap Asset Management Ltd. cut its stake in American Tower Co. (NYSE:AMT) by 20.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,108 shares of the real estate investment trust’s stock after selling 2,578 shares during the quarter. Lecap Asset Management Ltd.’s holdings in American Tower were worth $1,854,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings 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 worth $25,000 after purchasing an additional 78 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter worth about $30,000. Hara Capital LLC bought a new position in shares of American Tower in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the 3rd quarter worth about $34,000. Finally, Activest Wealth Management increased its stake in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $189.69 on Friday. The firm’s 50-day moving average price is $188.84 and its 200-day moving average price is $209.77. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market cap of $88.64 billion, a PE ratio of 80.04, a PEG ratio of 1.24 and a beta of 0.84. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56.

American Tower Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AMT shares. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. BMO Capital Markets decreased their price target on shares of 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 decreased their price target on shares of 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. Finally, Mizuho decreased their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower Company 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.