Bogart Wealth LLC Increases Position in American Tower Co. (NYSE:AMT)

Bogart Wealth LLC grew its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 19.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,869 shares of the real estate investment trust's stock after purchasing an additional 5,869 shares during the period. Bogart Wealth LLC's holdings in American Tower were worth $6,579,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in 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 shares of American Tower during the 3rd quarter worth $30,000. Hara Capital LLC bought a new stake in shares of American Tower during the 3rd quarter worth $31,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower during the 3rd quarter worth $34,000. Finally, Activest Wealth Management lifted its holdings in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 125 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business's 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 transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

American Tower Trading Up 0.2 %

Shares of NYSE AMT traded up $0.37 during midday trading on Tuesday, hitting $189.75. 2,301,000 shares of the company traded hands, compared to its average volume of 2,111,813. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. 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 stock has a 50-day moving average price of $186.31 and a 200 day moving average price of $208.44. The firm has a market cap of $88.67 billion, a P/E ratio of 80.06, a P/E/G ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given 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 was Friday, December 27th. American Tower's dividend payout ratio is currently 273.42%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMT shares. StockNews.com downgraded shares of American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their price target on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. JMP Securities started 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 for the company. BMO Capital Markets lowered their price target on shares of American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Citizens Jmp raised shares of American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $225.79.

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.