TCW Group Inc. Sells 39,477 Shares of American Tower Co. (NYSE:AMT)

TCW Group Inc. reduced its stake in American Tower Co. (NYSE:AMT) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,769 shares of the real estate investment trust’s stock after selling 39,477 shares during the period. TCW Group Inc. owned 0.08% of American Tower worth $71,671,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AMT. FMR LLC raised its stake in American Tower by 25.4% in 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 buying an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC raised its stake in American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after buying an additional 993,061 shares in the last quarter. State Street Corp raised its stake in 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 worth $4,924,091,000 after buying an additional 635,726 shares in the last quarter. Finally, KBC Group NV raised its stake in American Tower by 270.4% in the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock worth $108,553,000 after buying an additional 340,742 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 value of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Trading Down 0.5 %

NYSE:AMT opened at $191.32 on Friday. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company’s 50 day moving average price is $185.67 and its 200-day moving average price is $207.49. The stock has a market cap of $89.40 billion, a price-to-earnings ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. 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. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.79.

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.