Caprock Group LLC Boosts Stock Position in American Tower Co. (NYSE:AMT)

Caprock Group LLC raised its stake in shares of American Tower Co. (NYSE:AMT) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,050 shares of the real estate investment trust’s stock after buying an additional 1,999 shares during the quarter. Caprock Group LLC’s holdings in American Tower were worth $2,413,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AMT. Fortitude Family Office LLC grew its holdings in shares of 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 buying an additional 78 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in American Tower in the 3rd quarter valued at approximately $30,000. Hara Capital LLC purchased a new stake in American Tower during the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC bought a new stake in shares of American Tower in the 3rd quarter worth $34,000. Finally, Activest Wealth Management raised its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Price Performance

NYSE AMT opened at $184.91 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The stock has a market cap of $86.41 billion, a price-to-earnings ratio of 78.02, a PEG ratio of 1.23 and a beta of 0.84. The company’s 50 day moving average is $190.58 and its two-hundred day moving average is $210.44.

American Tower Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMT shares. BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Scotiabank lowered their price objective on shares of 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 note on Monday, January 27th. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

About American Tower

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.