Cabot Wealth Management Inc. Boosts Stock Holdings in American Tower Co. (NYSE:AMT)

Cabot Wealth Management Inc. boosted its position in American Tower Co. (NYSE:AMT) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,926 shares of the real estate investment trust’s stock after buying an additional 1,313 shares during the quarter. Cabot Wealth Management Inc.’s holdings in American Tower were worth $8,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AMT. Fortitude Family Office LLC lifted its holdings in American Tower by 269.0% during the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 78 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of American Tower during the 3rd quarter valued at approximately $31,000. Roxbury Financial LLC bought a new position in American Tower in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new position in American Tower in the 3rd quarter valued at approximately $34,000. Finally, Activest Wealth Management raised its holdings in American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Insider Transactions at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Stock Down 0.5 %

Shares of AMT opened at $191.32 on Friday. The firm has a market cap of $89.40 billion, a P/E ratio of 80.73, a P/E/G ratio of 1.29 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The stock has a 50 day simple moving average of $185.67 and a two-hundred day simple moving average of $207.49. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.39%. American Tower’s payout ratio is 273.42%.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of analyst reports. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Mizuho decreased their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.79.

American Tower Company 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.