Kathleen S. Wright Associates Inc. Decreases Stock Position in American Tower Co. (NYSE:AMT)

Kathleen S. Wright Associates Inc. reduced its stake in American Tower Co. (NYSE:AMT) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,860 shares of the real estate investment trust’s stock after selling 275 shares during the period. Kathleen S. Wright Associates Inc.’s holdings in American Tower were worth $523,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Fortitude Family Office LLC grew its stake 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 in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the third quarter valued at about $30,000. Hara Capital LLC bought a new stake in shares of American Tower in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new position in American Tower during the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management lifted its position in 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 last quarter. 92.69% of the stock is currently owned by institutional investors.

American Tower Stock Up 0.3 %

AMT stock opened at $185.53 on Tuesday. The firm’s fifty day simple moving average is $190.58 and its 200-day simple moving average is $210.42. The company has a market capitalization of $86.70 billion, a P/E ratio of 78.28, a price-to-earnings-growth ratio of 1.24 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 company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.49%. American Tower’s payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMT shares. Scotiabank cut their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company decreased 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 report on Thursday, January 23rd. Barclays decreased their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Four equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Activity

In other 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 transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.18% of the company’s stock.

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.