American Tower Co. (NYSE:AMT) Shares Sold by BayBridge Capital Group LLC

BayBridge Capital Group LLC cut its stake in American Tower Co. (NYSE:AMT) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,066 shares of the real estate investment trust’s stock after selling 81 shares during the period. BayBridge Capital Group LLC’s holdings in American Tower were worth $929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of 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. Geode Capital Management LLC grew its holdings in shares of American Tower by 1.9% in the third 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 purchasing an additional 204,426 shares during the period. FMR LLC increased 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 worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 during the period. Finally, Franklin Resources Inc. boosted its holdings in American Tower by 0.9% in the 3rd 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 during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMT. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. 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, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

American Tower Price Performance

Shares of AMT opened at $188.91 on Friday. The company has a market cap of $88.28 billion, a P/E ratio of 79.71, a PEG ratio of 1.27 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two 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 firm’s 50 day moving average price is $188.84 and its 200 day moving average price is $209.77.

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. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.43%. American Tower’s dividend payout ratio (DPR) is presently 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.