Clarus Wealth Advisors bought a new stake in shares of American Tower Corp (NYSE:AMT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,779 shares of the real estate investment trust’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vident Investment Advisory LLC raised its holdings in American Tower by 166.9% during the third quarter. Vident Investment Advisory LLC now owns 4,019 shares of the real estate investment trust’s stock worth $550,000 after buying an additional 2,513 shares during the last quarter. LVM Capital Management Ltd. MI raised its holdings in American Tower by 11.6% during the fourth quarter. LVM Capital Management Ltd. MI now owns 57,741 shares of the real estate investment trust’s stock worth $8,238,000 after buying an additional 5,986 shares during the last quarter. BB&T Corp raised its holdings in American Tower by 3.1% during the third quarter. BB&T Corp now owns 37,161 shares of the real estate investment trust’s stock worth $5,079,000 after buying an additional 1,104 shares during the last quarter. Heritage Investors Management Corp raised its holdings in American Tower by 13.9% during the third quarter. Heritage Investors Management Corp now owns 23,902 shares of the real estate investment trust’s stock worth $3,267,000 after buying an additional 2,915 shares during the last quarter. Finally, Zions Bancorporation raised its holdings in American Tower by 4,708.4% during the third quarter. Zions Bancorporation now owns 3,991 shares of the real estate investment trust’s stock worth $546,000 after buying an additional 3,908 shares during the last quarter. Hedge funds and other institutional investors own 91.75% of the company’s stock.

Several research analysts have weighed in on the stock. ValuEngine upgraded shares of American Tower from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research downgraded shares of American Tower from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Oppenheimer upped their price objective on shares of American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Morgan Stanley upped their price objective on shares of American Tower from $155.00 to $172.00 and gave the stock an “overweight” rating in a report on Tuesday, November 14th. Finally, KeyCorp restated an “overweight” rating and set a $177.00 price objective (up previously from $156.00) on shares of American Tower in a report on Monday, November 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have issued a buy rating to the stock. American Tower has an average rating of “Buy” and an average target price of $158.60.

Shares of American Tower Corp (NYSE:AMT) opened at $140.00 on Thursday. The company has a market cap of $60,112.74, a PE ratio of 21.70, a PEG ratio of 1.33 and a beta of 0.77. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.61. American Tower Corp has a 1-year low of $103.36 and a 1-year high of $155.28.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were issued a $0.70 dividend. The ex-dividend date was Wednesday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 2.00%. This is an increase from American Tower’s previous quarterly dividend of $0.66. American Tower’s dividend payout ratio is currently 106.46%.

American Tower announced that its Board of Directors has approved a stock buyback plan on Thursday, December 7th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In other news, Chairman James D. Taiclet, Jr. sold 34,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $151.20, for a total value of $5,140,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman James D. Taiclet, Jr. sold 34,667 shares of the stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $142.52, for a total transaction of $4,940,740.84. Following the completion of the sale, the chairman now owns 305,374 shares of the company’s stock, valued at approximately $43,521,902.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,251 shares of company stock valued at $11,026,134. 0.86% of the stock is currently owned by corporate insiders.

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About American Tower

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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