FourThought Financial Partners LLC Reduces Holdings in American Tower Co. (NYSE:AMT)

FourThought Financial Partners LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 2.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 113,380 shares of the real estate investment trust’s stock after selling 3,274 shares during the period. American Tower accounts for 2.2% of FourThought Financial Partners LLC’s holdings, making the stock its 7th biggest position. FourThought Financial Partners LLC’s holdings in American Tower were worth $20,795,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of American Tower by 1.9% in the third quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock worth $2,599,074,000 after purchasing an additional 204,426 shares during the last quarter. FMR LLC boosted its position in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after buying an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in American Tower by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after buying an additional 243,061 shares during the period. Finally, Franklin Resources Inc. raised its position in American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after buying an additional 38,436 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Trading Up 0.2 %

NYSE:AMT opened at $191.88 on Tuesday. The firm has a market cap of $89.66 billion, a PE ratio of 80.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. 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 fifty day moving average price of $185.63 and a 200 day moving average price of $207.14. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 yield of 3.38%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMT shares. Citigroup cut their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company reduced their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $227.00.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.18% of the company’s stock.

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.