American Tower Corp (NYSE:AMT) Shares Sold by Massey Quick Simon & CO. LLC

Massey Quick Simon & CO. LLC decreased its holdings in American Tower Corp (NYSE:AMT) by 63.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 172 shares of the real estate investment trust’s stock after selling 300 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in American Tower were worth $27,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Schroder Investment Management Group boosted its stake in shares of American Tower by 56.3% during the 2nd quarter. Schroder Investment Management Group now owns 11,201 shares of the real estate investment trust’s stock worth $1,616,000 after buying an additional 4,033 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of American Tower by 10.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 150,440 shares of the real estate investment trust’s stock valued at $21,689,000 after purchasing an additional 13,702 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of American Tower by 7.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,414,223 shares of the real estate investment trust’s stock valued at $636,400,000 after purchasing an additional 312,126 shares during the period. Park National Corp OH raised its holdings in shares of American Tower by 17.5% in the 3rd quarter. Park National Corp OH now owns 26,087 shares of the real estate investment trust’s stock valued at $3,790,000 after purchasing an additional 3,881 shares during the period. Finally, Cibc Bank USA raised its holdings in shares of American Tower by 12.6% in the 3rd quarter. Cibc Bank USA now owns 7,648 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 853 shares during the period. 94.85% of the stock is currently owned by institutional investors and hedge funds.

In other American Tower news, Director Gustavo Lara sold 3,050 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $172.71, for a total value of $526,765.50. Following the transaction, the director now directly owns 9,940 shares of the company’s stock, valued at approximately $1,716,737.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas A. Bartlett sold 93,338 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $165.00, for a total transaction of $15,400,770.00. Following the completion of the transaction, the chief financial officer now directly owns 133,660 shares in the company, valued at $22,053,900. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,841 shares of company stock worth $34,946,471. Insiders own 0.87% of the company’s stock.

American Tower stock opened at $173.70 on Thursday. The stock has a market capitalization of $76.02 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 1.59 and a beta of 0.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 3.11. American Tower Corp has a twelve month low of $132.02 and a twelve month high of $173.95.

A number of equities research analysts have recently issued reports on AMT shares. Zacks Investment Research raised shares of American Tower from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Citigroup cut shares of American Tower from a “buy” rating to a “neutral” rating and upped their target price for the company from $161.00 to $176.00 in a report on Wednesday, October 31st. KeyCorp upped their target price on shares of American Tower from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Wednesday, October 31st. Bank of America set a $172.00 target price on shares of American Tower and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Barclays upped their target price on shares of American Tower from $156.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, October 31st. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. American Tower currently has a consensus rating of “Buy” and a consensus price target of $167.00.

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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 170,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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