Citizens & Northern Corp Increases Position in American Tower Co. (NYSE:AMT)

Citizens & Northern Corp grew its holdings in shares of American Tower Co. (NYSE:AMT) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,409 shares of the real estate investment trust’s stock after purchasing an additional 84 shares during the period. Citizens & Northern Corp’s holdings in American Tower were worth $1,726,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMT. Fortitude Family Office LLC grew its position in American Tower by 269.0% during the 3rd 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. Northwest Investment Counselors LLC purchased a new stake in shares of American Tower during the third quarter valued at approximately $30,000. Hara Capital LLC bought a new stake in shares of American Tower during the third quarter valued at approximately $31,000. Roxbury Financial LLC purchased a new position in American Tower in the 4th quarter worth approximately $32,000. Finally, Legacy Investment Solutions LLC bought a new position in American Tower in the 3rd quarter valued at approximately $34,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Trading Down 0.3 %

Shares of NYSE:AMT opened at $189.41 on Tuesday. The company has a market cap 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. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock has a 50 day moving average of $186.70 and a 200 day moving average of $208.71. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower Dividend Announcement

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

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction on 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 owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Scotiabank decreased their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets lowered their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $225.79.

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.