Entropy Technologies LP Decreases Stake in American Tower Co. (NYSE:AMT)

Entropy Technologies LP lowered its holdings in American Tower Co. (NYSE:AMT) by 52.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,907 shares of the real estate investment trust’s stock after selling 10,930 shares during the quarter. Entropy Technologies LP’s holdings in American Tower were worth $1,817,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in AMT. FMR LLC boosted its holdings in American Tower by 25.4% during 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 buying an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC lifted its position in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after acquiring an additional 1,160,890 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of American Tower by 23,224.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after acquiring an additional 775,379 shares during the period. Finally, State Street Corp raised its holdings in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on AMT shares. The Goldman Sachs Group lowered their target price on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company dropped their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Finally, JMP Securities initiated coverage on American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $188.91 on Monday. The business has a fifty day simple moving average of $188.44 and a 200-day simple moving average of $209.63. 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 P/E ratio of 79.71, a P/E/G ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued 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 payout ratio is currently 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.