Postrock Partners LLC bought a new stake in shares of American Tower Co. (NYSE:AMT – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,138 shares of the real estate investment trust’s stock, valued at approximately $1,126,000.
Several other hedge funds also recently made changes to their positions in AMT. Roxbury Financial LLC acquired a new stake in shares of American Tower during the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the third quarter worth $34,000. Activest Wealth Management increased 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 period. Bank of Jackson Hole Trust acquired a new position in shares of American Tower during the fourth quarter worth approximately $46,000. Finally, Versant Capital Management Inc increased its holdings in shares of American Tower by 113.9% during the 4th quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 139 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.
American Tower Stock Up 0.3 %
Shares of NYSE AMT opened at $207.29 on Friday. The business has a 50-day simple moving average of $191.76 and a two-hundred day simple moving average of $206.06. The company has a market cap of $96.90 billion, a P/E ratio of 87.46, a P/E/G ratio of 1.29 and a beta of 0.85. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27.
American Tower Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be issued a dividend of $1.70 per share. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.28%. American Tower’s dividend payout ratio is 141.37%.
Analysts Set New Price Targets
Several research firms have recently weighed in on AMT. Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup raised their price target on American Tower from $220.00 to $235.00 and gave the company a “buy” rating in a report on Monday. Hsbc Global Res raised American Tower to a “strong-buy” rating in a research note on Thursday, February 27th. Morgan Stanley decreased their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, Barclays dropped their price target 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. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.29.
Get Our Latest Analysis on American Tower
Insider Buying and Selling
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 stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.
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.
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