Asset Management One Co. Ltd. Sells 9,883 Shares of American Tower Co. (NYSE:AMT)

Asset Management One Co. Ltd. decreased its position in American Tower Co. (NYSE:AMT) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 183,746 shares of the real estate investment trust’s stock after selling 9,883 shares during the quarter. Asset Management One Co. Ltd.’s holdings in American Tower were worth $33,418,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMT. CX Institutional raised its stake in shares of American Tower by 2.9% in the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 54 shares during the period. Palumbo Wealth Management LLC raised its stake in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after buying an additional 57 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of American Tower by 4.2% in the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 58 shares during the period. Precedent Wealth Partners LLC raised its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 58 shares during the period. Finally, Fullcircle Wealth LLC raised its stake in shares of American Tower by 1.2% in the third quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after buying an additional 61 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction that occurred 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 approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

NYSE:AMT opened at $189.41 on Friday. The firm has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The business has a 50 day simple moving average of $187.05 and a 200-day simple moving average of $209.07. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

AMT has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Mizuho cut their target price 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. Scotiabank cut their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Finally, JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $225.79.

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.