Golden State Equity Partners Buys 724 Shares of American Tower Co. (NYSE:AMT)

Golden State Equity Partners raised its stake in shares of American Tower Co. (NYSE:AMT) by 145.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,221 shares of the real estate investment trust’s stock after purchasing an additional 724 shares during the period. Golden State Equity Partners’ holdings in American Tower were worth $224,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Balentine LLC bought a new position in shares of American Tower in the third quarter worth about $586,000. Nordea Investment Management AB boosted its stake in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of American Tower in the third quarter worth about $1,156,000. Czech National Bank lifted its position in shares of American Tower by 6.9% in the third quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after buying an additional 6,163 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in shares of American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 1,995 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the 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 owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMT shares. BMO Capital Markets decreased their target price 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. Mizuho decreased their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Barclays decreased their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Trading Down 0.6 %

AMT opened at $184.21 on Wednesday. The stock has a market cap of $86.08 billion, a price-to-earnings ratio of 77.73, a P/E/G ratio of 1.24 and a beta of 0.84. The stock’s 50 day moving average price is $190.14 and its 200-day moving average price is $210.25. American Tower Co. has a one year low of $170.46 and a one year high of $243.56. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.52%. American Tower’s dividend payout ratio is 273.42%.

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.