Corps Capital Advisors LLC purchased a new position in American Tower Co. (NYSE:AMT - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,715 shares of the real estate investment trust's stock, valued at approximately $315,000.
Other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new position in American Tower in the 3rd quarter worth approximately $30,000. Oakworth Capital Inc. raised its holdings in shares of American Tower by 85.7% during the third quarter. Oakworth Capital Inc. now owns 390 shares of the real estate investment trust's stock valued at $91,000 after purchasing an additional 180 shares during the last quarter. Signaturefd LLC lifted its position in American Tower by 7.9% during the third quarter. Signaturefd LLC now owns 8,004 shares of the real estate investment trust's stock valued at $1,861,000 after purchasing an additional 585 shares during the period. BLB&B Advisors LLC boosted its holdings in American Tower by 5.2% in the third quarter. BLB&B Advisors LLC now owns 1,813 shares of the real estate investment trust's stock worth $422,000 after purchasing an additional 89 shares during the last quarter. Finally, Weaver Capital Management LLC grew its position in American Tower by 2.7% in the 3rd quarter. Weaver Capital Management LLC now owns 8,901 shares of the real estate investment trust's stock worth $2,070,000 after purchasing an additional 233 shares during the period. Institutional investors own 92.69% of the company's stock.
Analysts Set New Price Targets
A number of research firms have recently issued reports on AMT. Scotiabank dropped their price target on 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. BMO Capital Markets cut their price target on American Tower from $255.00 to $245.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group cut their price target on American Tower from $260.00 to $234.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Finally, Wells Fargo & Company decreased their price objective on shares of American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $225.79.
Read Our Latest Analysis on AMT
American Tower Price Performance
Shares of American Tower stock traded down $0.58 during trading hours on Friday, reaching $191.80. The company's stock had a trading volume of 1,681,279 shares, compared to its average volume of 2,123,138. The firm has a 50 day moving average price of $185.78 and a 200-day moving average price of $207.88. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market cap of $89.62 billion, a P/E ratio of 80.93, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.
American Tower Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given 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 yield of 3.38%. American Tower's dividend payout ratio (DPR) is presently 273.42%.
Insider Buying and Selling at American Tower
In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 sale, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company's stock.
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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