Syntax Research Inc. Has $3.22 Million Stock Holdings in American Tower Co. (NYSE:AMT)

Syntax Research Inc. boosted its holdings in American Tower Co. (NYSE:AMT - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,542 shares of the real estate investment trust's stock after purchasing an additional 3,937 shares during the quarter. American Tower makes up about 2.3% of Syntax Research Inc.'s investment portfolio, making the stock its 16th largest holding. Syntax Research Inc.'s holdings in American Tower were worth $3,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMT. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the third quarter valued at $34,000. Crowley Wealth Management Inc. bought a new stake in shares of American Tower during the fourth quarter valued at about $37,000. Bank of Jackson Hole Trust acquired a new stake in American Tower in the fourth quarter worth about $46,000. Finally, Versant Capital Management Inc grew its position in American Tower by 113.9% in the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 139 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the subject of a number of research analyst reports. 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 note on Wednesday, January 8th. Wells Fargo & Company raised American Tower from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $210.00 to $230.00 in a research report on Monday, March 17th. Morgan Stanley decreased their price objective on American Tower from $219.00 to $213.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a "sector outperform" rating for the company in a report on Thursday, January 23rd. Finally, 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 research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $229.43.

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Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company's stock.

American Tower Price Performance

NYSE:AMT traded up $1.48 on Friday, reaching $215.52. The stock had a trading volume of 1,907,465 shares, compared to its average volume of 2,385,502. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a market capitalization of $100.74 billion, a P/E ratio of 90.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.85. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a fifty day moving average price of $198.89 and a 200-day moving average price of $204.85.

American Tower (NYSE:AMT - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, beating the consensus estimate of $1.79 by $0.83. The business had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.51 billion. American Tower had a net margin of 10.05% and a return on equity of 22.01%. American Tower's revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 earnings per share. Research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, April 11th will be given a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, April 11th. This is a positive change from American Tower's previous quarterly dividend of $1.62. American Tower's dividend payout ratio (DPR) is currently 141.37%.

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.