CIBC Asset Management Inc boosted its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 90,746 shares of the real estate investment trust's stock after buying an additional 2,136 shares during the quarter. CIBC Asset Management Inc's holdings in American Tower were worth $16,644,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its stake in shares of American Tower by 269.0% during the third 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 during the period. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the 3rd quarter valued at about $30,000. Hara Capital LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $31,000. Roxbury Financial LLC bought a new stake in shares of American Tower during the fourth quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC acquired a new position in American Tower in the third quarter valued at approximately $34,000. 92.69% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on 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 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. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on AMT shares. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Wells Fargo & Company cut their target price on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Mizuho reduced their price objective on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, American Tower presently has an average rating of "Moderate Buy" and an average target price of $225.79.
View Our Latest Stock Analysis on American Tower
American Tower Stock Performance
NYSE:AMT traded down $1.06 during mid-day trading on Friday, hitting $191.32. The stock had a trading volume of 3,304,311 shares, compared to its average volume of 2,179,106. American Tower Co. has a twelve month low of $170.46 and a twelve 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 market cap of $89.40 billion, a price-to-earnings ratio of 80.73, a PEG ratio of 1.27 and a beta of 0.84. The company's 50 day simple moving average is $185.67 and its 200 day simple moving average is $207.64.
American Tower Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.39%. American Tower's dividend payout ratio is currently 273.42%.
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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