C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases Shares of 1,273 American Tower Co. (NYSE:AMT)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in American Tower Co. (NYSE:AMT) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 1,273 shares of the real estate investment trust’s stock, valued at approximately $233,000.

A number of other hedge funds also recently made changes to their positions in AMT. Balentine LLC purchased a new position in shares of American Tower in the 3rd quarter valued at $586,000. Nordea Investment Management AB raised its stake in shares of American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of American Tower in the 3rd quarter valued at $1,156,000. Brookstone Capital Management raised its stake in shares of American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares during the period. Finally, CCLA Investment Management raised its stake in shares of American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Trading Down 0.3 %

NYSE AMT opened at $189.41 on Friday. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a 50-day simple moving average of $187.05 and a 200-day simple moving average of $209.07. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $88.51 billion, a PE ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Mizuho dropped their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $225.79.

Insider Activity

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

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.