Soltis Investment Advisors LLC Lowers Stock Position in American Tower Co. (NYSE:AMT)

Soltis Investment Advisors LLC decreased its position in American Tower Co. (NYSE:AMT) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,068 shares of the real estate investment trust’s stock after selling 1,338 shares during the period. Soltis Investment Advisors LLC’s holdings in American Tower were worth $6,432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its position in American Tower by 25.4% in the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC boosted its holdings in American Tower by 2,723.4% during the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of American Tower by 22,242.7% during the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after acquiring an additional 775,379 shares during the period. Finally, State Street Corp grew its holdings in shares of American Tower by 3.1% in 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 acquiring an additional 635,726 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the 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 of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. 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. Wells Fargo & Company lowered their target price 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. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, JMP Securities assumed coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Stock Performance

Shares of AMT stock opened at $188.91 on Monday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a market cap of $88.28 billion, a PE ratio of 79.71, a P/E/G ratio of 1.27 and a beta of 0.84. 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 fifty day simple moving average is $188.44 and its 200-day simple moving average is $209.63.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.43%. 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.