First Horizon Advisors Inc. Has $10.77 Million Stock Holdings in American Tower Co. (NYSE:AMT)

First Horizon Advisors Inc. lowered its position in American Tower Co. (NYSE:AMT) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,705 shares of the real estate investment trust’s stock after selling 1,468 shares during the quarter. First Horizon Advisors Inc.’s holdings in American Tower were worth $10,767,000 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 AMT. Fortitude Family Office LLC increased its position in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 78 shares during the period. Hara Capital LLC acquired a new position in shares of American Tower during the third quarter worth $31,000. Roxbury Financial LLC bought a new stake in shares of American Tower in the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the third quarter valued at $34,000. Finally, Activest Wealth Management raised its position 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 worth $36,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Price Performance

AMT stock opened at $191.32 on Friday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a market capitalization of $89.40 billion, a PE ratio of 80.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company’s 50-day moving average is $185.67 and its 200-day moving average is $207.49. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid 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 3.39%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

AMT has been the topic of a number of analyst reports. JMP Securities assumed 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. 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, February 14th. BMO Capital Markets lowered their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Barclays reduced their price objective on shares of 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, StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

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.