Everhart Financial Group Inc. Has $315,000 Stock Position in American Tower Co. (NYSE:AMT)

Everhart Financial Group Inc. reduced its stake in American Tower Co. (NYSE:AMT) by 14.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,715 shares of the real estate investment trust’s stock after selling 283 shares during the period. Everhart Financial Group Inc.’s holdings in American Tower were worth $315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AMT. Creative Planning boosted its position in shares of American Tower by 7.1% in the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after purchasing an additional 4,999 shares during the last quarter. Good Life Advisors LLC bought a new position in shares of American Tower in the 3rd quarter worth $201,000. Bleakley Financial Group LLC boosted its position in shares of American Tower by 1.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 7,987 shares of the real estate investment trust’s stock worth $1,857,000 after purchasing an additional 109 shares during the last quarter. Stratos Investment Management LLC bought a new position in shares of American Tower in the 3rd quarter worth $275,000. Finally, Moss Adams Wealth Advisors LLC bought a new position in shares of American Tower in the 3rd quarter worth $248,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citigroup reduced their target price on American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company reduced their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Price Performance

NYSE:AMT opened at $189.41 on Monday. 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’s 50-day simple moving average is $186.70 and its 200 day simple moving average is $208.79. The company 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 52-week low of $170.46 and a 52-week high of $243.56.

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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.

Insider Activity at American Tower

In related 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

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.