Quotient Wealth Partners LLC Sells 704 Shares of American Tower Co. (NYSE:AMT)

Quotient Wealth Partners LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 20.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,675 shares of the real estate investment trust’s stock after selling 704 shares during the quarter. Quotient Wealth Partners LLC’s holdings in American Tower were worth $491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC grew its position in American Tower by 0.6% during the 3rd quarter. CWM LLC now owns 12,517 shares of the real estate investment trust’s stock worth $2,911,000 after acquiring an additional 78 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of American Tower by 300.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,297 shares of the real estate investment trust’s stock worth $766,000 after purchasing an additional 2,474 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of American Tower by 6.9% in the third quarter. Valeo Financial Advisors LLC now owns 4,908 shares of the real estate investment trust’s stock worth $1,141,000 after buying an additional 315 shares during the period. Meyer Handelman Co. purchased a new stake in American Tower during the 3rd quarter valued at $217,000. Finally, Ritholtz Wealth Management grew its holdings in American Tower by 20.6% in the 3rd quarter. Ritholtz Wealth Management now owns 5,443 shares of the real estate investment trust’s stock worth $1,266,000 after acquiring an additional 930 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AMT shares. Barclays lowered their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. The Goldman Sachs Group dropped their price target 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. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their price target on shares of 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. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.23.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $188.91 on Monday. The stock has a 50-day moving average price of $188.44 and a 200 day moving average price of $209.63. 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. The stock has a market capitalization of $88.28 billion, a P/E ratio of 79.71, a P/E/G ratio of 1.27 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 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

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.