Vontobel Holding Ltd. lifted its stake in shares of American Tower Co. (NYSE:AMT - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,074,318 shares of the real estate investment trust's stock after acquiring an additional 35,149 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.23% of American Tower worth $197,041,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. CX Institutional grew its stake in shares of American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust's stock valued at $450,000 after acquiring an additional 54 shares during the period. Palumbo Wealth Management LLC boosted its stake in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust's stock worth $864,000 after purchasing an additional 57 shares during the period. Rehmann Capital Advisory Group boosted its stake in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust's stock worth $332,000 after purchasing an additional 58 shares during the period. Precedent Wealth Partners LLC boosted its stake in American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 58 shares during the period. Finally, Fullcircle Wealth LLC boosted its stake in American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust's stock worth $1,123,000 after purchasing an additional 61 shares during the period. 92.69% of the stock is currently owned by institutional investors.
Insider Transactions at American Tower
In related news, CFO Rodney M. Smith sold 16,567 shares of the firm'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 sale, the chief financial officer now owns 62,792 shares of the company's stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in 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 price target for the company. StockNews.com cut American Tower from a "buy" rating to a "hold" rating in a report on Wednesday, October 30th. Wells Fargo & Company decreased their price target on American Tower from $215.00 to $195.00 and set an "equal weight" rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Finally, Citizens Jmp upgraded American Tower to a "strong-buy" rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.79.
Check Out Our Latest Research Report on AMT
American Tower Stock Up 0.2 %
Shares of AMT traded up $0.37 during midday trading on Tuesday, reaching $189.75. 2,301,000 shares of the stock were exchanged, compared to its average volume of 2,111,813. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company's 50 day moving average is $186.31 and its two-hundred day moving average is $208.44. The company has a market capitalization of $88.67 billion, a P/E ratio of 80.06, a PEG ratio of 1.27 and a beta of 0.84.
American Tower Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Friday, December 27th. American Tower's payout ratio is 273.42%.
About American Tower
(
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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