American Tower Co. (NYSE:AMT) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its stake in shares of American Tower Co. (NYSE:AMT) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,097 shares of the real estate investment trust’s stock after selling 442 shares during the quarter. Kentucky Retirement Systems’ holdings in American Tower were worth $5,887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of AMT. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the period. Hara Capital LLC purchased a new position in American Tower during the 3rd quarter worth $31,000. Roxbury Financial LLC acquired a new stake in shares of American Tower in the 4th quarter worth $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower in the third quarter valued at about $34,000. Finally, Activest Wealth Management increased its stake in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 125 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Price Performance

Shares of NYSE AMT opened at $192.51 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s 50-day moving average price is $185.78 and its 200 day moving average price is $207.88. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The stock has a market cap of $89.96 billion, a price-to-earnings ratio of 81.23, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. American Tower’s dividend payout ratio is presently 273.42%.

Insider Transactions at American Tower

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 sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AMT. Wells Fargo & Company lowered their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. 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. Mizuho cut their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JMP Securities assumed coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Finally, The Goldman Sachs Group lowered their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.79.

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.