64,707 Shares in American Tower Co. (NYSE:AMT) Acquired by Vantage Investment Partners LLC

Vantage Investment Partners LLC bought a new position in American Tower Co. (NYSE:AMT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 64,707 shares of the real estate investment trust's stock, valued at approximately $11,868,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Fortitude Family Office LLC increased its position in shares of American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 78 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC acquired a new stake in American Tower during the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the third quarter valued at $34,000. Finally, Activest Wealth Management raised its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 125 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMT has been the topic of several research analyst reports. StockNews.com cut shares of American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. JMP Securities began coverage on American Tower in a report on Monday. They set an "outperform" rating and a $225.00 price target for the company. Mizuho dropped their price objective on American Tower from $221.00 to $204.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, Citizens Jmp upgraded shares of American Tower to a "strong-buy" rating in a research note on Monday. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $226.23.

American Tower Stock Performance

AMT stock traded down $4.98 during mid-day trading on Tuesday, reaching $187.06. 1,995,598 shares of the stock traded hands, compared to its average volume of 2,365,184. The firm has a market capitalization of $87.41 billion, a PE ratio of 78.93, a P/E/G ratio of 1.24 and a beta of 0.84. The business has a 50-day moving average of $191.94 and a two-hundred day moving average of $211.14. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. 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 (NYSE:AMT - Get Free Report) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.45 by ($1.56). American Tower had a net margin of 10.05% and a return on equity of 22.01%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the business earned $2.58 EPS. The business's quarterly revenue was down 10.5% compared to the same quarter last year. As a group, equities analysts predict that American Tower Co. will post 10.15 EPS for the current fiscal year.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 27th. American Tower's dividend payout ratio (DPR) is currently 273.42%.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business's stock in a transaction dated 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 directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.18% of the company's stock.

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.