Miller Howard Investments Inc. NY Sells 3,219 Shares of American Tower Co. (NYSE:AMT)

Miller Howard Investments Inc. NY decreased its stake in American Tower Co. (NYSE:AMT) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 33,712 shares of the real estate investment trust’s stock after selling 3,219 shares during the period. Miller Howard Investments Inc. NY’s holdings in American Tower were worth $6,183,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fortitude Family Office LLC increased its position in American Tower by 269.0% in the third 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 last quarter. Northwest Investment Counselors LLC bought a new stake in American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC purchased a new stake in American Tower during the third quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new position in American Tower during the third quarter worth about $34,000. Finally, Activest Wealth Management raised its position in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the period. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Mizuho cut their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets decreased their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company lowered their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower Stock Down 0.4 %

AMT opened at $188.91 on Friday. 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. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The business’s 50-day moving average price is $188.44 and its 200-day moving average price is $209.62. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27.

American Tower Announces Dividend

The business also recently disclosed 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Buying and Selling

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

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.