Financiere des Professionnels Fonds d investissement inc. Has $17.50 Million Stock Position in American Tower Co. (NYSE:AMT)

Financiere des Professionnels Fonds d investissement inc. lowered its holdings in shares of American Tower Co. (NYSE:AMT) by 2.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 95,392 shares of the real estate investment trust’s stock after selling 1,922 shares during the period. American Tower comprises about 1.2% of Financiere des Professionnels Fonds d investissement inc.’s holdings, making the stock its 17th biggest position. Financiere des Professionnels Fonds d investissement inc.’s holdings in American Tower were worth $17,496,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Balentine LLC bought a new stake in American Tower during the 3rd quarter worth $586,000. Nordea Investment Management AB grew its position in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in American Tower during the 3rd quarter worth $1,156,000. Brookstone Capital Management grew its position in American Tower by 29.0% during 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 grew its position in 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 acquiring an additional 22,523 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of American Tower stock opened at $189.41 on Monday. The business’s fifty day simple moving average is $186.70 and its 200 day simple moving average is $208.79. The firm has a market capitalization of $88.51 billion, a P/E ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors 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 3.42%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 sale, the chief financial officer now directly owns 62,792 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. JMP Securities initiated coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Scotiabank reduced their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Barclays reduced their price target on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Four equities research 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. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target 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.