Gladstone Institutional Advisory LLC Has $258,000 Stake in American Tower Co. (NYSE:AMT)

Gladstone Institutional Advisory LLC cut its position in American Tower Co. (NYSE:AMT) by 5.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,409 shares of the real estate investment trust’s stock after selling 79 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in American Tower were worth $258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AMT. FMR LLC lifted its stake in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC lifted its position in shares of American Tower by 2,723.4% during the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after buying an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in American Tower by 23,224.1% in the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock valued at $231,941,000 after buying an additional 993,061 shares in the last quarter. International Assets Investment Management LLC grew its position in American Tower by 22,242.7% in the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock valued at $1,811,330,000 after acquiring an additional 775,379 shares during the last quarter. Finally, State Street Corp raised its stake in American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after acquiring an additional 635,726 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMT shares. Scotiabank decreased 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. Barclays lowered their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company cut their price objective 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. Citigroup dropped their target price on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $225.79.

American Tower Stock Performance

AMT stock opened at $189.41 on Friday. The firm has a market cap of $88.51 billion, a PE ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50-day moving average price of $186.70 and a 200-day moving average price of $208.89. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. 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 payout ratio is 273.42%.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.18% of the company’s stock.

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.