TFG Advisers LLC Cuts Stock Position in American Tower Co. (NYSE:AMT)

TFG Advisers LLC trimmed its position in American Tower Co. (NYSE:AMT) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,351 shares of the real estate investment trust’s stock after selling 146 shares during the period. American Tower makes up approximately 1.1% of TFG Advisers LLC’s portfolio, making the stock its 20th largest holding. TFG Advisers LLC’s holdings in American Tower were worth $2,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AMT. Fortitude Family Office LLC boosted its holdings in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in American Tower in the third quarter valued at about $30,000. Hara Capital LLC purchased a new stake in American Tower in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new position in American Tower during the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management raised its stake in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

AMT stock opened at $188.91 on Friday. The stock’s 50 day moving average price is $188.84 and its 200 day moving average price is $209.77. The firm has a market cap of $88.28 billion, a P/E ratio of 79.71, a PEG ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company lowered their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Mizuho reduced their price objective 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. The Goldman Sachs Group lowered their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, BMO Capital Markets reduced 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 report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $226.23.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is currently owned by company insiders.

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.