Timber Creek Capital Management LLC Trims Stock Position in American Tower Co. (NYSE:AMT)

Timber Creek Capital Management LLC decreased its holdings in shares of American Tower Co. (NYSE:AMT) by 19.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,065 shares of the real estate investment trust’s stock after selling 3,699 shares during the quarter. Timber Creek Capital Management LLC’s holdings in American Tower were worth $2,763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Balentine LLC purchased a new stake in American Tower in the 3rd quarter valued at about $586,000. Nordea Investment Management AB increased its position in shares of American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of American Tower in the 3rd quarter valued at approximately $1,156,000. Brookstone Capital Management lifted its holdings in shares of American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 1,995 shares during the last quarter. Finally, CCLA Investment Management boosted its position in shares of American Tower by 5.5% during the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after purchasing an additional 22,523 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on 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 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. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Trading Up 0.2 %

NYSE:AMT opened at $189.75 on Wednesday. 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. The stock has a market cap of $88.67 billion, a P/E ratio of 80.06, a P/E/G ratio of 1.27 and a beta of 0.84. The stock has a 50-day simple moving average of $186.11 and a 200-day simple moving average of $208.12.

American Tower Announces Dividend

The business also recently disclosed 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. 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 3.41%. American Tower’s payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

A number of research firms have commented on AMT. Citigroup decreased their price target on 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 decreased their target price 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. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Finally, Barclays cut their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.