Burns Matteson Capital Management LLC Trims Stock Position in American Tower Co. (NYSE:AMT)

Burns Matteson Capital Management LLC trimmed its stake in American Tower Co. (NYSE:AMT) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 2,785 shares of the real estate investment trust’s stock after selling 168 shares during the quarter. Burns Matteson Capital Management LLC’s holdings in American Tower were worth $511,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Angeles Wealth Management LLC grew its holdings in shares of American Tower by 13.7% during the 4th quarter. Angeles Wealth Management LLC now owns 1,913 shares of the real estate investment trust’s stock worth $351,000 after acquiring an additional 231 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of American Tower by 5.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 32,137 shares of the real estate investment trust’s stock valued at $5,894,000 after purchasing an additional 1,722 shares during the period. Family Capital Trust Co grew its stake in American Tower by 1.8% in the fourth quarter. Family Capital Trust Co now owns 23,458 shares of the real estate investment trust’s stock worth $4,302,000 after purchasing an additional 411 shares during the period. Empowered Funds LLC raised its holdings in American Tower by 17.7% in the fourth quarter. Empowered Funds LLC now owns 11,693 shares of the real estate investment trust’s stock worth $2,145,000 after purchasing an additional 1,758 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in American Tower by 8.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 8,295 shares of the real estate investment trust’s stock valued at $1,521,000 after buying an additional 626 shares during the period. Institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AMT. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho decreased their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Scotiabank cut their price target 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. Finally, Barclays dropped their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s 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 completion of the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents 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.

American Tower Price Performance

NYSE AMT opened at $188.91 on Monday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market capitalization of $88.28 billion, a price-to-earnings ratio of 79.71, a PEG ratio of 1.27 and a beta of 0.84. The stock has a 50-day moving average of $188.44 and a 200 day moving average of $209.63. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

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 of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.43%. American Tower’s payout ratio is 273.42%.

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.