American Tower Co. (NYSE:AMT) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in American Tower Co. (NYSE:AMT) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 408,273 shares of the real estate investment trust’s stock after acquiring an additional 44,665 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.09% of American Tower worth $73,910,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AMT. Balentine LLC acquired a new stake in American Tower during the third quarter valued at approximately $586,000. Nordea Investment Management AB lifted its position in shares of American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after acquiring an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower during the 3rd quarter valued at $1,156,000. Brookstone Capital Management boosted its stake in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management grew its holdings in shares of American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after acquiring an additional 22,523 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

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 value of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly 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 document filed with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMT shares. StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays decreased their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. The Goldman Sachs Group decreased their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Wells Fargo & Company cut 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. Four equities research 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. Based on data from MarketBeat.com, American Tower presently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

American Tower Price Performance

AMT opened at $189.54 on Thursday. The stock has a fifty day moving average price of $187.80 and a 200 day moving average price of $209.34. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. 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 $88.57 billion, a price-to-earnings ratio of 79.97, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors 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 dividend yield of 3.42%. American Tower’s payout ratio is 273.42%.

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.