Van ECK Associates Corp lifted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,818 shares of the real estate investment trust's stock after purchasing an additional 5,110 shares during the quarter. Van ECK Associates Corp's holdings in American Tower were worth $24,360,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AMT. Fortitude Family Office LLC lifted its position in American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in American Tower in the 3rd quarter valued at $30,000. Hara Capital LLC bought a new stake in American Tower in the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC bought a new stake in American Tower in the 3rd quarter valued at $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 valued at $36,000 after acquiring an additional 125 shares in the last quarter. 92.69% of the stock is owned by institutional investors.
American Tower Stock Performance
Shares of AMT stock traded up $0.68 during midday trading on Tuesday, hitting $190.06. 825,307 shares of the company were exchanged, compared to its average volume of 2,062,511. The firm has a market capitalization of $88.81 billion, a P/E ratio of 79.99, a PEG ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm's 50 day moving average price is $186.31 and its two-hundred day moving average price is $208.44. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.
American Tower Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, December 27th. American Tower's payout ratio is 273.42%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Barclays lowered their price target on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. BMO Capital Markets lowered 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. JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 price target on the stock. Finally, Scotiabank lowered 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 research note on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, American Tower presently has an average rating of "Moderate Buy" and a consensus target price of $225.79.
Read Our Latest Research Report on AMT
Insider Buying and Selling
In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 completion of the sale, the chief financial officer now 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.
American Tower Company Profile
(
Free Report)
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.
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