Texas Yale Capital Corp. Raises Stock Position in American Tower Co. (NYSE:AMT)

Texas Yale Capital Corp. boosted its stake in shares of American Tower Co. (NYSE:AMT – Get Rating) by 0.8% during the 3rd quarter, Holdings Channel reports. The firm owned 11,573 shares of the real estate investment trust’s stock after acquiring an additional 95 shares during the quarter. Texas Yale Capital Corp.’s holdings in American Tower were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. BCK Partners Inc. acquired a new position in shares of American Tower in the 1st quarter valued at $2,892,000. Fairfield Bush & CO. grew its holdings in shares of American Tower by 138.9% during the first quarter. Fairfield Bush & CO. now owns 2,829 shares of the real estate investment trust’s stock worth $711,000 after buying an additional 1,645 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of American Tower by 5.7% during the first quarter. Cetera Investment Advisers now owns 14,413 shares of the real estate investment trust’s stock worth $3,621,000 after buying an additional 771 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of American Tower by 33.5% during the first quarter. Sequoia Financial Advisors LLC now owns 3,015 shares of the real estate investment trust’s stock worth $757,000 after buying an additional 756 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of American Tower by 1.4% during the first quarter. Loomis Sayles & Co. L P now owns 152,723 shares of the real estate investment trust’s stock worth $38,367,000 after buying an additional 2,071 shares in the last quarter. Hedge funds and other institutional investors own 89.65% of the company’s stock.

American Tower Stock Performance

Shares of NYSE AMT traded up $5.65 during mid-day trading on Thursday, hitting $232.79. 675,267 shares of the company were exchanged, compared to its average volume of 1,885,212. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.87. The stock has a 50 day simple moving average of $218.10 and a 200-day simple moving average of $229.19. American Tower Co. has a 1-year low of $178.17 and a 1-year high of $282.47. The firm has a market cap of $108.39 billion, a price-to-earnings ratio of 37.11, a price-to-earnings-growth ratio of 2.05 and a beta of 0.55.

American Tower Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Investors of record on Wednesday, December 28th will be issued a dividend of $1.56 per share. The ex-dividend date of this dividend is Tuesday, December 27th. This is an increase from American Tower’s previous quarterly dividend of $1.47. This represents a $6.24 annualized dividend and a dividend yield of 2.68%. American Tower’s dividend payout ratio (DPR) is currently 99.05%.

Insider Buying and Selling

In other American Tower news, Director Raymond P. Dolan sold 1,620 shares of the firm’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $229.25, for a total value of $371,385.00. Following the completion of the sale, the director now owns 17,473 shares of the company’s stock, valued at $4,005,685.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other American Tower news, Director Raymond P. Dolan sold 1,620 shares of American Tower stock in a transaction dated Friday, January 13th. The shares were sold at an average price of $229.25, for a total transaction of $371,385.00. Following the completion of the transaction, the director now owns 17,473 shares in the company, valued at $4,005,685.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rodney M. Smith sold 1,574 shares of American Tower stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total value of $368,190.08. Following the sale, the chief financial officer now owns 47,071 shares of the company’s stock, valued at approximately $11,010,848.32. The disclosure for this sale can be found here. Insiders sold a total of 6,848 shares of company stock valued at $1,567,721 over the last three months. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. Barclays increased their price target on shares of American Tower from $232.00 to $247.00 and gave the stock an “overweight” rating in a research report on Monday, November 14th. Raymond James raised their target price on shares of American Tower from $219.00 to $233.00 and gave the company a “market outperform” rating in a report on Wednesday, November 23rd. Cowen dropped their price target on shares of American Tower to $279.00 in a research note on Tuesday, November 1st. Truist Financial dropped their price target on shares of American Tower from $325.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, January 13th. Finally, The Goldman Sachs Group upgraded shares of American Tower from a “neutral” rating to a “buy” rating and increased their price target for the company from $215.00 to $245.00 in a research note on Tuesday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and an average price target of $266.06.

American Tower Company Profile

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American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.