Mill Creek Capital Advisors LLC Decreases Stock Holdings in American Tower Co. (NYSE:AMT)

Mill Creek Capital Advisors LLC lowered its stake in shares of American Tower Co. (NYSE:AMT) by 20.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,629 shares of the real estate investment trust’s stock after selling 2,983 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in American Tower were worth $2,133,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC increased its holdings in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management grew its stake in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Up 0.5 %

Shares of NYSE:AMT opened at $189.85 on Tuesday. The business has a 50-day moving average price of $188.44 and a 200 day moving average price of $209.63. 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 has a market capitalization of $88.71 billion, a price-to-earnings ratio of 80.10, a PEG 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.

American Tower Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AMT shares. BMO Capital Markets dropped their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. The Goldman Sachs Group decreased 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 upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.