American Tower Co. (NYSE:AMT) Shares Acquired by Avestar Capital LLC

Avestar Capital LLC boosted its stake in American Tower Co. (NYSE:AMT) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,812 shares of the real estate investment trust’s stock after purchasing an additional 409 shares during the quarter. Avestar Capital LLC’s holdings in American Tower were worth $699,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AMT. One Plus One Wealth Management LLC boosted its holdings in American Tower by 7.2% in the fourth quarter. One Plus One Wealth Management LLC now owns 3,868 shares of the real estate investment trust’s stock valued at $709,000 after acquiring an additional 260 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of American Tower in the 4th quarter worth about $233,000. Van ECK Associates Corp raised its holdings in shares of American Tower by 4.0% in the 4th quarter. Van ECK Associates Corp now owns 132,818 shares of the real estate investment trust’s stock worth $24,360,000 after purchasing an additional 5,110 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of American Tower by 12.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 408,273 shares of the real estate investment trust’s stock valued at $73,910,000 after purchasing an additional 44,665 shares in the last quarter. Finally, Community Financial Services Group LLC grew its holdings in shares of American Tower by 9.4% during the 4th quarter. Community Financial Services Group LLC now owns 4,804 shares of the real estate investment trust’s stock worth $881,000 after purchasing an additional 414 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $189.90 on Friday. The business has a 50 day moving average price of $187.44 and a two-hundred day moving average price of $209.20. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market cap of $88.74 billion, a PE ratio of 80.13, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. 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 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 of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.41%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Insider Activity at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on AMT. The Goldman Sachs Group cut their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. BMO Capital Markets reduced their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Scotiabank decreased their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Barclays decreased their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, American Tower currently has a consensus rating of “Moderate Buy” and an average target price of $226.23.

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.