Skylands Capital LLC Increases Holdings in American Tower Co. (NYSE:AMT)

Skylands Capital LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 45.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,320 shares of the real estate investment trust’s stock after purchasing an additional 17,675 shares during the period. American Tower comprises 1.4% of Skylands Capital LLC’s holdings, making the stock its 18th biggest holding. Skylands Capital LLC’s holdings in American Tower were worth $10,330,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its position in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares during the period. Hara Capital LLC purchased a new stake in American Tower during the third quarter valued at approximately $31,000. Roxbury Financial LLC purchased a new position in shares of American Tower in the fourth quarter worth $32,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower in the third quarter worth $34,000. Finally, Activest Wealth Management raised its holdings in shares of American Tower by 431.0% in the third 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 last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMT. Wells Fargo & Company cut their price objective 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. The Goldman Sachs Group dropped their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. JMP Securities began coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target on the stock. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays reduced their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, American Tower has a consensus rating of “Moderate Buy” and an average price target of $225.79.

Insider Buying and Selling

In other news, CFO Rodney M. Smith sold 16,567 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

American Tower Trading Down 0.5 %

NYSE:AMT opened at $191.32 on Monday. The stock has a fifty day moving average price of $185.67 and a two-hundred day moving average price of $207.36. 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 has a market capitalization of $89.40 billion, a price-to-earnings ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) 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.