Everhart Financial Group Inc. Sells 283 Shares of American Tower Co. (NYSE:AMT)

Everhart Financial Group Inc. lessened its stake in shares of American Tower Co. (NYSE:AMT) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,715 shares of the real estate investment trust’s stock after selling 283 shares during the quarter. Everhart Financial Group Inc.’s holdings in American Tower were worth $315,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Palumbo Wealth Management LLC boosted its stake in shares of American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 58 shares in the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Fullcircle Wealth LLC boosted its stake in American Tower by 1.2% during the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock valued at $1,123,000 after purchasing an additional 61 shares during the period. Finally, Resonant Capital Advisors LLC boosted its stake in American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 61 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was 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. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on AMT shares. Scotiabank decreased their target price 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. Wells Fargo & Company decreased their target price on 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. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Citigroup decreased their target price on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Trading Down 0.3 %

Shares of AMT opened at $189.41 on Monday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. 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 stock has a 50 day simple moving average of $186.70 and a 200-day simple moving average of $208.79. The stock has a market cap of $88.51 billion, a PE ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

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

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.