Girard Partners LTD. trimmed its position in American Tower Corp (NYSE:AMT) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,297 shares of the real estate investment trust’s stock after selling 810 shares during the period. Girard Partners LTD.’s holdings in American Tower were worth $2,468,000 at the end of the most recent quarter.

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

AMT has been the topic of a number of research reports. Zacks Investment Research upgraded American Tower from a “hold” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Tuesday, January 2nd. Morgan Stanley restated an “overweight” rating and issued a $172.00 price target on shares of American Tower in a report on Wednesday, December 13th. Oppenheimer upped their target price on American Tower from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Argus upped their target price on American Tower to $170.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Finally, Jefferies Group upped their target price on American Tower from $144.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $158.60.

In other news, Chairman James D. Taiclet, Jr. sold 34,667 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $142.52, for a total value of $4,940,740.84. Following the transaction, the chairman now owns 305,374 shares of the company’s stock, valued at $43,521,902.48. 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 that occurred on Monday, November 13th. The shares were sold at an average price of $151.20, for a total value of $5,140,800.00. The disclosure for this sale can be found here. Insiders sold 75,251 shares of company stock worth $11,026,134 in the last ninety days. 0.86% of the stock is owned by company insiders.

American Tower Corp (NYSE:AMT) opened at $136.05 on Friday. American Tower Corp has a 12-month low of $104.73 and a 12-month high of $155.28. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $58,345.86, a P/E ratio of 21.06, a PEG ratio of 1.29 and a beta of 0.77.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th were given a $0.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $2.80 annualized dividend and a dividend yield of 2.06%. American Tower’s dividend payout ratio is presently 106.46%.

American Tower announced that its Board of Directors has initiated a share buyback program on Thursday, December 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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American Tower Company 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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