Concurrent Investment Advisors LLC Has $995,000 Stock Holdings in American Tower Co. (NYSE:AMT)

Concurrent Investment Advisors LLC decreased its stake in shares of American Tower Co. (NYSE:AMT) by 30.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,428 shares of the real estate investment trust’s stock after selling 2,347 shares during the period. Concurrent Investment Advisors LLC’s holdings in American Tower were worth $995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp boosted its holdings in shares of American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the period. Geode Capital Management LLC boosted its holdings in American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the period. FMR LLC boosted its holdings in American Tower by 25.4% in the 3rd 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. Charles Schwab Investment Management Inc. boosted its holdings in American Tower by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after purchasing an additional 243,061 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock worth $981,455,000 after acquiring an additional 38,436 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AMT has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Scotiabank decreased their price target on shares of 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. Mizuho decreased their price target 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. Wells Fargo & Company reduced their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.79.

American Tower Stock Down 0.5 %

Shares of NYSE AMT opened at $191.32 on Friday. The firm has a market cap of $89.40 billion, a PE ratio of 80.73, a P/E/G ratio of 1.29 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’s fifty day simple moving average is $185.67 and its 200 day simple moving average is $207.49. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is presently 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.