Pathway Financial Advisers LLC Reduces Holdings in American Tower Co. (NYSE:AMT)

Pathway Financial Advisers LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,163 shares of the real estate investment trust’s stock after selling 126 shares during the quarter. Pathway Financial Advisers LLC’s holdings in American Tower were worth $763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered 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 report on Thursday, January 23rd. Mizuho lowered their target price 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. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets reduced their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Price Performance

Shares of NYSE:AMT opened at $189.54 on Thursday. The business has a 50-day simple moving average of $187.44 and a two-hundred day simple moving average of $209.20. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $88.57 billion, a price-to-earnings ratio of 79.97, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week 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 given a dividend of $1.62 per share. 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 3.42%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.18% of the stock is currently owned by corporate 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.