One Plus One Wealth Management LLC Grows Stock Position in American Tower Co. (NYSE:AMT)

One Plus One Wealth Management LLC increased its stake in shares of American Tower Co. (NYSE:AMT) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,868 shares of the real estate investment trust’s stock after purchasing an additional 260 shares during the quarter. One Plus One Wealth Management LLC’s holdings in American Tower were worth $709,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in American Tower during the 4th quarter worth approximately $233,000. Van ECK Associates Corp boosted its stake in shares of American Tower by 4.0% in the fourth quarter. Van ECK Associates Corp now owns 132,818 shares of the real estate investment trust’s stock valued at $24,360,000 after buying an additional 5,110 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in American Tower by 12.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 408,273 shares of the real estate investment trust’s stock worth $73,910,000 after acquiring an additional 44,665 shares during the period. Community Financial Services Group LLC raised its position in American Tower by 9.4% in the fourth quarter. Community Financial Services Group LLC now owns 4,804 shares of the real estate investment trust’s stock worth $881,000 after acquiring an additional 414 shares in the last quarter. Finally, Strengthening Families & Communities LLC raised its position in American Tower by 3.1% in the fourth quarter. Strengthening Families & Communities LLC now owns 10,846 shares of the real estate investment trust’s stock worth $1,990,000 after acquiring an additional 323 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

American Tower Stock Down 2.0 %

AMT opened at $189.54 on Thursday. The firm has a market cap of $88.57 billion, a P/E ratio of 79.97, a PEG ratio of 1.27 and a beta of 0.84. The business’s fifty day simple moving average is $187.80 and its 200 day simple moving average is $209.34. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued 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 3.42%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMT shares. Wells Fargo & Company lowered their price target 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. JMP Securities initiated coverage on shares of American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective on the stock. Scotiabank dropped their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Citizens Jmp raised American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus target price of $226.23.

Insider Activity

In other 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 sale, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.18% of the company’s stock.

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.