Triasima Portfolio Management inc. Sells 6,405 Shares of American Tower Co. (NYSE:AMT)

Triasima Portfolio Management inc. lessened its holdings in American Tower Co. (NYSE:AMT) by 37.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,850 shares of the real estate investment trust’s stock after selling 6,405 shares during the period. Triasima Portfolio Management inc.’s holdings in American Tower were worth $1,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMT. FMR LLC raised its position 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 valued at $2,474,934,000 after purchasing an additional 2,152,646 shares in the last quarter. Adelante Capital Management LLC boosted its position in American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after acquiring an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after purchasing an additional 993,061 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after purchasing an additional 775,379 shares during the last quarter. Finally, State Street Corp raised its holdings in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets decreased their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company 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 on the stock in a research report on Wednesday, January 8th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Barclays reduced their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $226.23.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

AMT stock opened at $189.69 on Friday. The stock has a 50-day moving average price of $188.84 and a two-hundred day moving average price of $209.77. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. 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 company has a market cap of $88.64 billion, a PE ratio of 80.04, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

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.