Baillie Gifford & Co. Sells 42,120 Shares of American Tower Co. (NYSE:AMT)

Baillie Gifford & Co. decreased its stake in shares of American Tower Co. (NYSE:AMT) by 35.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 76,215 shares of the real estate investment trust’s stock after selling 42,120 shares during the period. Baillie Gifford & Co.’s holdings in American Tower were worth $13,979,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in shares of American Tower by 269.0% during 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 bought a new stake in shares of American Tower during the 3rd quarter worth about $30,000. Hara Capital LLC bought a new stake in American Tower in the 3rd quarter valued at about $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower in the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management boosted its holdings in American Tower by 431.0% in the 3rd 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. Institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, 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 SEC, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

American Tower Price Performance

AMT stock opened at $189.41 on Tuesday. The company has a 50 day simple moving average of $186.70 and a 200 day simple moving average of $208.71. The stock has a market cap of $88.51 billion, a price-to-earnings ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year 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 Dividend Announcement

The business 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 yield of 3.42%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

Analysts Set New Price Targets

A number of research firms have issued reports on AMT. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Wells Fargo & Company cut 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. Scotiabank cut their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Finally, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, American Tower presently has an average rating of “Moderate Buy” and a consensus target price of $225.79.

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.