Financiere des Professionnels Fonds d investissement inc. Has $17.50 Million 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% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,392 shares of the real estate investment trust’s stock after selling 1,922 shares during the quarter. American Tower accounts for about 1.2% of Financiere des Professionnels Fonds d investissement inc.’s portfolio, 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 SEC filing.

A number of other hedge funds also recently modified their holdings of AMT. Creative Planning raised its position in shares of American Tower by 7.1% during the third quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after purchasing an additional 4,999 shares during the period. Good Life Advisors LLC acquired a new stake in shares of American Tower during the third quarter worth about $201,000. Bleakley Financial Group LLC raised its position in shares of American Tower by 1.4% during the third quarter. Bleakley Financial Group LLC now owns 7,987 shares of the real estate investment trust’s stock worth $1,857,000 after purchasing an additional 109 shares during the period. Stratos Investment Management LLC acquired a new stake in shares of American Tower during the third quarter worth about $275,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in shares of American Tower during the third quarter worth about $248,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of recent research reports. Mizuho dropped their target price 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. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $225.79.

American Tower Stock Performance

Shares of NYSE AMT opened at $189.41 on Monday. The stock has a 50 day moving average of $186.70 and a 200-day moving average of $208.79. The company has a market capitalization of $88.51 billion, a P/E ratio of 79.92, a P/E/G 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 company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.42%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

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.