Lee Financial Co Sells 106 Shares of American Tower Co. (NYSE:AMT)

Lee Financial Co reduced its position in American Tower Co. (NYSE:AMT) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,438 shares of the real estate investment trust’s stock after selling 106 shares during the quarter. Lee Financial Co’s holdings in American Tower were worth $1,182,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Balentine LLC purchased a new stake in shares of American Tower in the 3rd quarter worth approximately $586,000. Nordea Investment Management AB lifted its holdings in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new stake in American Tower during the third quarter worth $1,156,000. Brookstone Capital Management boosted its position in American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management increased its holdings in shares of American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Performance

Shares of AMT opened at $189.41 on Friday. The stock has a 50-day moving average of $186.70 and a two-hundred day moving average of $208.89. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $88.51 billion, a P/E ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors 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 3.42%. American Tower’s dividend payout ratio is currently 273.42%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AMT shares. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup lowered their price target on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Scotiabank cut 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 report on Thursday, January 23rd. 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.79.

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.