Shepherd Financial Partners LLC Sells 113 Shares of American Tower Co. (NYSE:AMT)

Shepherd Financial Partners LLC lessened its holdings in shares of American Tower Co. (NYSE:AMT) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,077 shares of the real estate investment trust’s stock after selling 113 shares during the period. Shepherd Financial Partners LLC’s holdings in American Tower were worth $381,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings 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 worth $25,000 after acquiring an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in American Tower during the third quarter worth about $30,000. Hara Capital LLC purchased a new position in shares of American Tower in the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower during the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management lifted its position in American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of NYSE AMT opened at $188.91 on Friday. 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 Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The company’s 50-day moving average is $188.84 and its 200 day moving average is $209.77. The stock has a market capitalization 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.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.43%. American Tower’s payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AMT. BMO Capital Markets decreased their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Scotiabank lowered their price target on shares of 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. Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Barclays lowered their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.23.

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.