American Tower Co. (NYSE:AMT) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC lessened its stake in shares of American Tower Co. (NYSE:AMT) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,603 shares of the real estate investment trust’s stock after selling 1,065 shares during the period. Clear Harbor Asset Management LLC’s holdings in American Tower were worth $3,595,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AMT. FMR LLC boosted its holdings in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the period. Ameriprise Financial Inc. increased its position in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock valued at $1,243,333,000 after purchasing an additional 1,885,421 shares during the last quarter. Adelante Capital Management LLC raised its holdings in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after buying an additional 775,379 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. 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 report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. 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. Wells Fargo & Company lowered shares of American Tower from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $245.00 to $230.00 in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.67.

American Tower Stock Up 0.2 %

Shares of NYSE AMT opened at $190.51 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50-day moving average price of $192.86 and a 200 day moving average price of $211.54. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market capitalization of $89.02 billion, a price-to-earnings ratio of 80.39, a price-to-earnings-growth ratio of 1.28 and a beta of 0.84.

American Tower (NYSE:AMT) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($1.56). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. American Tower had a return on equity of 22.01% and a net margin of 10.05%. The business’s revenue was down 10.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 EPS. Equities research analysts anticipate that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be issued a $1.62 dividend. The ex-dividend date is Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.40%. American Tower’s dividend payout ratio (DPR) is 273.42%.

American Tower Company 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.