Ameritas Investment Partners Inc. increased its holdings in American Tower Corp (NYSE:AMT) by 10.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,996 shares of the real estate investment trust’s stock after buying an additional 2,000 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in American Tower were worth $2,978,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bessemer Group Inc. raised its position in shares of American Tower by 208.8% during the second quarter. Bessemer Group Inc. now owns 5,428 shares of the real estate investment trust’s stock valued at $718,000 after buying an additional 3,670 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of American Tower during the second quarter valued at approximately $3,034,000. Canada Pension Plan Investment Board raised its position in shares of American Tower by 7.6% during the second quarter. Canada Pension Plan Investment Board now owns 1,066,709 shares of the real estate investment trust’s stock valued at $141,147,000 after buying an additional 75,700 shares during the last quarter. Wetherby Asset Management Inc. raised its position in shares of American Tower by 8.5% during the second quarter. Wetherby Asset Management Inc. now owns 7,723 shares of the real estate investment trust’s stock valued at $1,022,000 after buying an additional 604 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of American Tower by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,359,783 shares of the real estate investment trust’s stock valued at $179,927,000 after buying an additional 50,178 shares during the last quarter. 91.89% of the stock is currently owned by institutional investors.

In related news, EVP Edmund Disanto sold 10,000 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $137.95, for a total value of $1,379,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James D. Taiclet, Jr. sold 34,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $151.20, for a total transaction of $5,140,800.00. The disclosure for this sale can be found here. Insiders have sold 88,000 shares of company stock valued at $12,619,900 over the last three months. Insiders own 0.86% of the company’s stock.

AMT has been the topic of several research reports. Citigroup boosted their price target on shares of American Tower from $142.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a research report on Friday, November 3rd. Royal Bank of Canada restated a “buy” rating and issued a $153.00 price target on shares of American Tower in a research report on Friday, September 1st. KeyCorp set a $156.00 price target on shares of American Tower and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. Finally, BidaskClub upgraded shares of American Tower from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $158.50.

Shares of American Tower Corp (AMT) opened at $143.51 on Wednesday. The stock has a market cap of $61,776.71, a price-to-earnings ratio of 22.30, a PEG ratio of 1.69 and a beta of 0.73. American Tower Corp has a one year low of $102.51 and a one year high of $155.28. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.42 and a current ratio of 1.42.

American Tower announced that its board has authorized a share buyback program on Thursday, December 7th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th will be paid a dividend of $0.70 per share. This is a positive change from American Tower’s previous quarterly dividend of $0.66. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Wednesday, December 27th. American Tower’s payout ratio is currently 100.38%.

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American Tower Profile

American Tower Corporation (ATC) is a holding company. The Company operates as a real estate investment trust (REIT), which owns, operates and develops multitenant communications real estate. ATC’s segments include U.S. property, Asia property, EMEA property, Latin America property, Services and Other.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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