Liberty Capital Management Inc. Sells 504 Shares of American Tower Co. (NYSE:AMT)

Liberty Capital Management Inc. lessened its holdings in American Tower Co. (NYSE:AMT) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,919 shares of the real estate investment trust’s stock after selling 504 shares during the period. Liberty Capital Management Inc.’s holdings in American Tower were worth $4,020,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC raised its position 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 buying an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in American Tower during the third quarter valued at approximately $30,000. Hara Capital LLC bought a new stake in shares of American Tower in the 3rd quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the 3rd quarter valued at approximately $34,000. Finally, Activest Wealth Management raised its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’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 directly owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents 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 accessible through this hyperlink. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. BMO Capital Markets decreased their price objective 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. Barclays cut their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Four 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.com, American Tower has an average rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Stock Performance

AMT opened at $188.91 on Monday. 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 firm has a fifty day moving average price of $188.44 and a 200 day moving average price of $209.63. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower Dividend Announcement

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

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.