First Financial Bankshares Inc Grows Stock Holdings in American Tower Corporation $AMT

First Financial Bankshares Inc grew its position in American Tower Corporation (NYSE:AMT) by 104.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 276,514 shares of the real estate investment trust’s stock after buying an additional 141,532 shares during the period. First Financial Bankshares Inc owned 0.06% of American Tower worth $53,179,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Analyst IMS Investment Management Services Ltd. boosted its stake in American Tower by 3.6% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 1,370 shares of the real estate investment trust’s stock valued at $303,000 after acquiring an additional 48 shares in the last quarter. Marion Wealth Management lifted its holdings in shares of American Tower by 0.8% during the 2nd quarter. Marion Wealth Management now owns 5,924 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 48 shares during the last quarter. YANKCOM Partnership boosted its position in shares of American Tower by 2.9% in the 2nd quarter. YANKCOM Partnership now owns 1,729 shares of the real estate investment trust’s stock worth $382,000 after purchasing an additional 49 shares in the last quarter. GPS Wealth Strategies Group LLC grew its stake in American Tower by 2.0% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 2,566 shares of the real estate investment trust’s stock worth $567,000 after buying an additional 51 shares during the last quarter. Finally, Manchester Capital Management LLC increased its position in American Tower by 3.1% during the 2nd quarter. Manchester Capital Management LLC now owns 1,808 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 54 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT opened at $190.04 on Tuesday. The company has a 50 day simple moving average of $178.21 and a two-hundred day simple moving average of $185.91. The stock has a market cap of $88.97 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 0.78 and a beta of 0.93. The company has a current ratio of 0.89, a quick 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, December 29th were issued a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, December 29th. American Tower’s dividend payout ratio is presently 108.63%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup reissued a “market outperform” rating on shares of American Tower in a report on Wednesday, October 29th. Argus set a $210.00 target price on shares of American Tower in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of American Tower in a research note on Monday, December 29th. Royal Bank Of Canada lowered their price objective on shares of American Tower from $220.00 to $195.00 and set a “sector perform” rating for the company in a research note on Monday, January 12th. Finally, Morgan Stanley dropped their price objective on shares of American Tower from $255.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $218.79.

Insiders Place Their Bets

In other American Tower news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of American Tower 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 completion of the transaction, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.18% of the company’s stock.

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.