Tilt Investment Management Holdings PBC acquired a new stake in shares of American Tower Co. (NYSE:AMT – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,871 shares of the real estate investment trust’s stock, valued at approximately $407,000.
A number of other large investors also recently modified their holdings of AMT. Pinnacle Holdings LLC bought a new position in American Tower during the first quarter valued at approximately $29,000. Eagle Bay Advisors LLC purchased a new stake in shares of American Tower in the 2nd quarter valued at $30,000. VitalStone Financial LLC bought a new position in shares of American Tower during the 1st quarter valued at $38,000. Thompson Investment Management Inc. bought a new position in shares of American Tower during the 4th quarter valued at $29,000. Finally, McClarren Financial Advisors Inc. purchased a new position in American Tower in the 3rd quarter worth $27,000. 92.69% of the stock is owned by hedge funds and other institutional investors.
American Tower Trading Down 0.5 %
Shares of NYSE AMT traded down $0.87 during midday trading on Thursday, hitting $171.15. 1,398,057 shares of the company traded hands, compared to its average volume of 2,408,066. American Tower Co. has a 12-month low of $154.58 and a 12-month high of $219.10. The firm has a market cap of $79.82 billion, a P/E ratio of 54.09, a P/E/G ratio of 1.42 and a beta of 0.67. The stock has a 50-day moving average price of $192.83 and a 200 day moving average price of $193.58. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.69 and a current ratio of 0.69.
American Tower Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $1.62 dividend. The ex-dividend date is Thursday, April 11th. This represents a $6.48 dividend on an annualized basis and a yield of 3.79%. American Tower’s dividend payout ratio (DPR) is 203.77%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. BMO Capital Markets decreased their price target on American Tower from $235.00 to $228.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley increased their price objective on American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday. Mizuho started coverage on shares of American Tower in a research note on Monday, April 8th. They issued a “neutral” rating and a $205.00 target price on the stock. Finally, Barclays raised their price target on shares of American Tower from $224.00 to $234.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $217.36.
Check Out Our Latest Research Report on AMT
Insider Buying and Selling at American Tower
In related news, CFO Rodney M. Smith sold 11,510 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $205.71, for a total value of $2,367,722.10. Following the completion of the transaction, the chief financial officer now directly owns 62,969 shares in the company, valued at approximately $12,953,352.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Rodney M. Smith sold 11,510 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $205.71, for a total value of $2,367,722.10. Following the sale, the chief financial officer now directly owns 62,969 shares of the company’s stock, valued at approximately $12,953,352.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Pamela D. A. Reeve sold 5,054 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.46, for a total value of $962,584.84. Following the transaction, the director now directly owns 18,545 shares of the company’s stock, valued at approximately $3,532,080.70. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
American Tower Profile
American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
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