Stratos Wealth Partners LTD. Has $1.63 Million Stock Position in American Tower Corporation $AMT

Stratos Wealth Partners LTD. lowered its stake in American Tower Corporation (NYSE:AMT) by 29.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,448 shares of the real estate investment trust’s stock after selling 3,600 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in American Tower were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMT. Vanguard Group Inc. lifted its position in shares of American Tower by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 63,028,367 shares of the real estate investment trust’s stock valued at $13,930,530,000 after acquiring an additional 218,881 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of American Tower by 24.3% in the second quarter. JPMorgan Chase & Co. now owns 12,666,082 shares of the real estate investment trust’s stock valued at $2,799,458,000 after purchasing an additional 2,474,328 shares in the last quarter. Invesco Ltd. boosted its position in shares of American Tower by 11.9% in the second quarter. Invesco Ltd. now owns 6,680,524 shares of the real estate investment trust’s stock worth $1,476,529,000 after buying an additional 708,808 shares during the period. Norges Bank purchased a new position in shares of American Tower during the second quarter valued at $1,371,875,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in American Tower by 3.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,563,565 shares of the real estate investment trust’s stock worth $1,229,659,000 after acquiring an additional 208,213 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Tower

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the transaction, the insider owned 211,379 shares of the company’s stock, valued at approximately $14,743,685.25. This represents a 91.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMT. TD Cowen dropped their target price on American Tower from $249.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Barclays reiterated an “equal weight” rating and issued a $200.00 price objective (down previously from $203.00) on shares of American Tower in a research note on Monday, December 1st. JPMorgan Chase & Co. lowered their price target on shares of American Tower from $250.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Jefferies Financial Group dropped their price target on shares of American Tower from $226.00 to $202.00 and set a “buy” rating on the stock in a research note on Tuesday, December 16th. Finally, BMO Capital Markets cut American Tower from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $210.00 to $185.00 in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $218.79.

American Tower Stock Performance

Shares of AMT opened at $192.03 on Friday. The firm has a market cap of $89.90 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93. The company’s fifty day moving average is $177.25 and its 200-day moving average is $186.97. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 3.24. American Tower Corporation has a 12 month low of $166.88 and a 12 month high of $234.33.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, December 29th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, December 29th. American Tower’s dividend payout ratio is 108.63%.

About American Tower

American Tower (NYSE: AMT) is a real estate investment trust (REIT) that owns, operates and develops wireless and broadcast communications infrastructure. The company’s core business is leasing space on communications sites — including towers, rooftops and other structures — to wireless carriers, broadcasters, government agencies and enterprise customers. Its business model centers on long-term site leases and contracts that provide recurring revenue tied to the footprint and density of wireless networks.

Beyond traditional tower assets, American Tower offers a range of infrastructure and network services to support mobile, broadband and broadcast connectivity.