Crestwood Advisors Group LLC Reduces Stock Position in American Tower Co. (NYSE:AMT)

Crestwood Advisors Group LLC lessened its stake in American Tower Co. (NYSE:AMT) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,245 shares of the real estate investment trust’s stock after selling 549 shares during the quarter. Crestwood Advisors Group LLC’s holdings in American Tower were worth $3,713,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC increased its stake in shares of American Tower by 269.0% in 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 last quarter. Hara Capital LLC purchased a new stake in shares of American Tower in the third quarter valued at about $31,000. Roxbury Financial LLC acquired a new stake in American Tower during the fourth quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower during the third quarter worth about $34,000. Finally, Activest Wealth Management boosted its holdings in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Trading Up 0.2 %

Shares of AMT stock opened at $191.88 on Tuesday. The stock 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 fifty-two week low of $170.46 and a fifty-two week high of $243.56. 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 company has a 50 day moving average price of $185.63 and a 200 day moving average price of $207.14.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMT shares. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 14th. 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 note on Wednesday, January 8th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. BMO Capital Markets lowered their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Morgan Stanley reduced their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.00.

About American Tower

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.