Lincluden Management Ltd. Decreases Holdings in American Tower Co. (NYSE:AMT)

Lincluden Management Ltd. reduced its stake in American Tower Co. (NYSE:AMT) by 13.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,542 shares of the real estate investment trust’s stock after selling 3,102 shares during the period. Lincluden Management Ltd.’s holdings in American Tower were worth $3,768,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Balentine LLC purchased a new position in American Tower in the third quarter valued at about $586,000. Nordea Investment Management AB increased its stake in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after purchasing an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of American Tower in the 3rd quarter worth approximately $1,156,000. TigerOak Management L.L.C. purchased a new position in American Tower in the fourth quarter valued at approximately $1,102,000. Finally, Brookstone Capital Management grew its holdings in American Tower by 29.0% during the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after purchasing an additional 1,995 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMT. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. The Goldman Sachs Group lowered their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets cut 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. Mizuho lowered their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Morgan Stanley cut their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $227.00.

American Tower Stock Up 0.2 %

AMT opened at $191.88 on Tuesday. The firm has a market capitalization of $89.66 billion, a P/E ratio of 80.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a fifty day moving average price of $185.63 and a 200-day moving average price of $207.14. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.38%. American Tower’s dividend 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.