American Tower Co. (NYSE:AMT) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its stake in American Tower Co. (NYSE:AMT) by 1.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 32,097 shares of the real estate investment trust’s stock after selling 442 shares during the period. Kentucky Retirement Systems’ holdings in American Tower were worth $5,887,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of American Tower by 3.1% in the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares in the last quarter. Geode Capital Management LLC grew its position in American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after acquiring an additional 204,426 shares in the last quarter. FMR LLC increased its stake 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 purchasing an additional 2,152,646 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of American Tower by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock worth $1,211,397,000 after purchasing an additional 243,061 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of American Tower by 0.9% in the third quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after purchasing an additional 38,436 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AMT shares. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup lowered their target price on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

Insider Transactions at American Tower

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 stock was sold at an average price of $181.10, for a total value 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. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Up 2.1 %

Shares of NYSE:AMT opened at $192.51 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50 day simple moving average of $185.78 and a 200-day simple moving average of $207.88. The company has a market capitalization of $89.96 billion, a PE ratio of 81.23, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.