Chicago Partners Investment Group LLC Has $9.19 Million Holdings in American Tower Co. (NYSE:AMT)

Chicago Partners Investment Group LLC lowered its holdings in American Tower Co. (NYSE:AMT) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,281 shares of the real estate investment trust’s stock after selling 676 shares during the period. Chicago Partners Investment Group LLC’s holdings in American Tower were worth $9,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMT. Clear Creek Financial Management LLC raised its holdings in American Tower by 17.4% during the fourth quarter. Clear Creek Financial Management LLC now owns 3,316 shares of the real estate investment trust’s stock worth $608,000 after acquiring an additional 491 shares in the last quarter. Factory Mutual Insurance Co. grew its stake in shares of American Tower by 25.5% in the fourth quarter. Factory Mutual Insurance Co. now owns 227,700 shares of the real estate investment trust’s stock valued at $41,762,000 after buying an additional 46,200 shares in the last quarter. Custom Index Systems LLC acquired a new position in American Tower during the fourth quarter worth $222,000. Caprock Group LLC raised its position in American Tower by 18.1% during the fourth quarter. Caprock Group LLC now owns 13,050 shares of the real estate investment trust’s stock worth $2,413,000 after acquiring an additional 1,999 shares in the last quarter. Finally, BTC Capital Management Inc. grew its position in shares of American Tower by 5.6% in the 4th quarter. BTC Capital Management Inc. now owns 3,657 shares of the real estate investment trust’s stock valued at $664,000 after acquiring an additional 193 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AMT shares. Scotiabank dropped their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group cut their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Stock Performance

NYSE:AMT opened at $184.91 on Friday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The company has a market cap of $86.41 billion, a price-to-earnings ratio of 78.02, a PEG ratio of 1.23 and a beta of 0.84. The stock has a fifty day moving average price of $190.97 and a 200-day moving average price of $210.61.

American Tower (NYSE:AMT) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the business earned $2.58 earnings per share. American Tower’s quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts anticipate that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.50%. American Tower’s dividend payout ratio is currently 273.42%.

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.