Quotient Wealth Partners LLC Sells 704 Shares of American Tower Co. (NYSE:AMT)

Quotient Wealth Partners LLC lessened its stake in American Tower Co. (NYSE:AMT) by 20.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,675 shares of the real estate investment trust’s stock after selling 704 shares during the period. Quotient Wealth Partners LLC’s holdings in American Tower were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC lifted 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 valued at $25,000 after purchasing an additional 78 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in American Tower during the 3rd quarter valued at about $30,000. Hara Capital LLC purchased a new stake in American Tower in the third quarter valued at about $31,000. Legacy Investment Solutions LLC purchased a new stake in shares of American Tower during the third quarter worth about $34,000. Finally, Activest Wealth Management increased its holdings in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

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 stock was 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 of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Barclays reduced their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. JMP Securities assumed coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower Trading Down 0.4 %

Shares of American Tower stock opened at $188.91 on Monday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market cap of $88.28 billion, a P/E ratio of 79.71, a P/E/G ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $188.44 and its 200-day simple moving average is $209.63.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.43%. American Tower’s payout ratio is currently 273.42%.

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.