Ferguson Wellman Capital Management Inc. Has $779,000 Holdings in American Tower Co. (NYSE:AMT)

Ferguson Wellman Capital Management Inc. raised its position in shares of American Tower Co. (NYSE:AMT) by 20.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,247 shares of the real estate investment trust’s stock after purchasing an additional 735 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in American Tower were worth $779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMT. Fortitude Family Office LLC increased 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 period. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the 3rd quarter worth approximately $34,000. Finally, Activest Wealth Management grew its position in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on AMT shares. Mizuho reduced their price objective on shares of 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 reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. JMP Securities started coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company cut their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, American Tower has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Buying and Selling at American Tower

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE:AMT opened at $189.85 on Tuesday. 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’s fifty day simple moving average is $188.44 and its two-hundred day simple moving average is $209.63. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The stock has a market cap of $88.71 billion, a PE ratio of 80.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Friday, December 27th. 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.