American Tower Co. (NYSE:AMT) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 380.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,642 shares of the real estate investment trust's stock after purchasing an additional 27,428 shares during the quarter. Allworth Financial LP's holdings in American Tower were worth $6,419,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMT. Fortitude Family Office LLC lifted its holdings in 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 buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in American Tower during the 3rd quarter worth about $30,000. Hara Capital LLC purchased a new stake in American Tower during the 3rd quarter worth about $31,000. Roxbury Financial LLC purchased a new stake in American Tower during the 4th quarter worth about $32,000. Finally, Legacy Investment Solutions LLC purchased a new stake in American Tower during the 3rd quarter worth about $34,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

American Tower Stock Up 2.1 %

NYSE:AMT traded up $3.95 during mid-day trading on Thursday, hitting $192.51. The company had a trading volume of 2,848,528 shares, compared to its average volume of 2,144,998. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market capitalization of $89.96 billion, a price-to-earnings ratio of 81.23, a PEG 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 business has a fifty day simple moving average of $185.89 and a 200-day simple moving average of $207.99.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Friday, December 27th. American Tower's payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Mizuho reduced their target price on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Scotiabank decreased their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp raised American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.79.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. The trade was 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 this hyperlink. Corporate insiders own 0.18% of the company's stock.

American Tower 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.