Timber Creek Capital Management LLC Lowers Stake in American Tower Co. (NYSE:AMT)

Timber Creek Capital Management LLC cut its stake in American Tower Co. (NYSE:AMT) by 19.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,065 shares of the real estate investment trust’s stock after selling 3,699 shares during the quarter. Timber Creek Capital Management LLC’s holdings in American Tower were worth $2,763,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Creative Planning grew its position in shares of American Tower by 7.1% in the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after buying an additional 4,999 shares during the last quarter. Resonant Capital Advisors LLC acquired a new stake in American Tower in the third quarter valued at approximately $245,000. Prio Wealth Limited Partnership grew its holdings in American Tower by 34.0% in the third quarter. Prio Wealth Limited Partnership now owns 1,693 shares of the real estate investment trust’s stock worth $394,000 after purchasing an additional 430 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of American Tower during the third quarter worth $30,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of American Tower by 3.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 9,717 shares of the real estate investment trust’s stock valued at $2,260,000 after purchasing an additional 319 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $189.75 on Wednesday. The firm has a 50-day simple moving average of $186.11 and a 200-day simple moving average of $208.12. 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 stock has a market capitalization of $88.67 billion, a price-to-earnings ratio of 80.06, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Wall Street Analyst Weigh In

AMT has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price 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. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Citigroup cut their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Finally, Scotiabank decreased their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.79.

About American Tower

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.