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

Aveo Capital Partners LLC grew its position in American Tower Co. (NYSE:AMT) by 9.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,805 shares of the real estate investment trust’s stock after acquiring an additional 158 shares during the period. Aveo Capital Partners LLC’s holdings in American Tower were worth $331,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Palumbo Wealth Management LLC lifted its stake in American Tower by 1.6% in the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after buying an additional 58 shares in the last quarter. Precedent Wealth Partners LLC lifted its stake in shares of American Tower by 4.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 58 shares during the period. Fullcircle Wealth LLC lifted its stake in shares of American Tower by 1.2% during the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock worth $1,123,000 after purchasing an additional 61 shares during the period. Finally, Resonant Capital Advisors LLC lifted its stake in shares of American Tower by 5.8% during the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 61 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AMT shares. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a report on Monday, January 27th. Citigroup dropped their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a report on Friday. BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and an average price target of $225.79.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Stock Down 0.3 %

Shares of NYSE AMT opened at $189.41 on Friday. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market cap of $88.51 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s 50-day simple moving average is $186.70 and its 200-day simple moving average is $208.89.

American Tower Dividend Announcement

The firm also recently announced 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 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.