Miller Howard Investments Inc. NY Has $6.18 Million Stake in American Tower Co. (NYSE:AMT)

Miller Howard Investments Inc. NY lessened its position in shares of American Tower Co. (NYSE:AMT) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,712 shares of the real estate investment trust’s stock after selling 3,219 shares during the period. Miller Howard Investments Inc. NY’s holdings in American Tower were worth $6,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Family Capital Trust Co increased its stake in shares of American Tower by 1.8% in the 4th quarter. Family Capital Trust Co now owns 23,458 shares of the real estate investment trust’s stock valued at $4,302,000 after purchasing an additional 411 shares during the last quarter. Empowered Funds LLC raised its stake in American Tower by 17.7% during the fourth quarter. Empowered Funds LLC now owns 11,693 shares of the real estate investment trust’s stock worth $2,145,000 after acquiring an additional 1,758 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of American Tower by 8.2% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 8,295 shares of the real estate investment trust’s stock valued at $1,521,000 after purchasing an additional 626 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of American Tower by 19.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 170,909 shares of the real estate investment trust’s stock valued at $31,346,000 after purchasing an additional 27,251 shares during the last quarter. Finally, Vest Financial LLC increased its position in American Tower by 29.1% during the 4th quarter. Vest Financial LLC now owns 18,282 shares of the real estate investment trust’s stock worth $3,353,000 after purchasing an additional 4,116 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMT has been the topic of a number of research reports. Wells Fargo & Company decreased 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 research note on Thursday, January 23rd. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. BMO Capital Markets lowered their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Scotiabank cut their target price 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. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Activity

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

American Tower Stock Performance

NYSE:AMT opened at $188.91 on Friday. The firm has a market capitalization of $88.28 billion, a P/E ratio of 79.71, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a fifty day moving average of $188.44 and a 200-day moving average of $209.62. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given 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 3.43%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.