Baillie Gifford & Co. decreased its position in shares of American Tower Co. (NYSE:AMT - Free Report) by 35.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 76,215 shares of the real estate investment trust's stock after selling 42,120 shares during the quarter. Baillie Gifford & Co.'s holdings in American Tower were worth $13,979,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in AMT. FMR LLC grew its stake in shares of American Tower by 25.4% during the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust's stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the period. Adelante Capital Management LLC boosted its stake in American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust's stock worth $279,890,000 after purchasing an additional 1,160,890 shares during the period. Pathway Financial Advisers LLC boosted its stake in American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust's stock worth $231,941,000 after purchasing an additional 993,061 shares during the period. International Assets Investment Management LLC boosted its stake in American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust's stock worth $1,811,330,000 after purchasing an additional 775,379 shares during the period. Finally, State Street Corp boosted its stake in American Tower by 3.1% in the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust's stock worth $4,924,091,000 after purchasing an additional 635,726 shares during the period. Institutional investors own 92.69% of the company's stock.
American Tower Price Performance
Shares of NYSE AMT traded down $1.06 during trading hours on Friday, reaching $191.32. 3,304,311 shares of the stock traded hands, compared to its average volume of 2,179,106. The company has a market capitalization of $89.40 billion, a P/E ratio of 80.73, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company's 50-day simple moving average is $185.67 and its two-hundred day simple moving average is $207.64.
American Tower Announces Dividend
The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.39%. American Tower's dividend payout ratio is 273.42%.
Analyst Upgrades and Downgrades
Several brokerages have commented on AMT. JMP Securities began coverage on American Tower in a research note on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price for the company. Citigroup cut their target price on American Tower from $255.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Scotiabank cut their target price on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group cut their target price on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Finally, Mizuho dropped their price target on American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Four investment 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $225.79.
Check Out Our Latest Analysis on AMT
Insider Activity at American Tower
In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company's stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.
Read More
Before you consider American Tower, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and American Tower wasn't on the list.
While American Tower currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
