Lord & Richards Wealth Management LLC Takes Position in American Tower Co. (NYSE:AMT)

Lord & Richards Wealth Management 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 filing with the Securities and Exchange Commission (SEC). The firm purchased 2,602 shares of the real estate investment trust's stock, valued at approximately $477,000.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its stake in American Tower by 3.1% in the third 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. Geode Capital Management LLC increased its position in American Tower by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust's stock valued at $2,599,074,000 after purchasing an additional 204,426 shares during the period. FMR LLC lifted its position in shares of American Tower by 25.4% in 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 purchasing an additional 2,152,646 shares during the period. Charles Schwab Investment Management Inc. raised its stake in American Tower by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust's stock worth $1,211,397,000 after buying an additional 243,061 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in American Tower by 0.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust's stock valued at $981,455,000 after acquiring an additional 38,436 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

Analyst Ratings Changes

AMT has been the subject of a number of analyst reports. Mizuho decreased their target price 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. Citigroup cut their price objective on shares of American Tower from $255.00 to $220.00 and set a "buy" rating for the company in a report on Friday, February 14th. BMO Capital Markets lowered their target price 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. Barclays decreased their target price on shares of American Tower from $215.00 to $214.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Finally, JMP Securities started coverage on American Tower in a research report on Monday, January 27th. They issued an "outperform" rating and a $225.00 target price on the stock. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $225.79.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company's stock in a transaction 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 sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Performance

NYSE AMT traded down $1.00 during trading on Wednesday, reaching $188.55. The company's stock had a trading volume of 2,470,020 shares, compared to its average volume of 2,123,010. The business's fifty day moving average price is $185.89 and its 200-day moving average price is $207.99. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The firm has a market cap of $88.11 billion, a price-to-earnings ratio of 79.56, a P/E/G 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.

American Tower Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.44%. American Tower's payout ratio is currently 273.42%.

About American Tower

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.