Goldman Sachs downgraded American Tower (NYSE: AMT) from Buy to Neutral with a price target of $106.00 (from $110.00).

Analyst Brett Feldman said, "Our downgrade does not reflect a material change in our fundamental outlook for AMT. Instead, it reflects a belief that investors looking for exposure to the tower sector can generate a more attractive total return in CCI, which we are separately upgrading to Buy following its move to a high-payout dividend policy (see Crown Castle: Attractive Yield + Growth; Upgrading to Buy).

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Shares of American Tower closed at $97.50 yesterday.