American Tower Co. (NYSE:AMT) Shares Bought by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC grew its holdings in American Tower Co. (NYSE:AMTFree Report) by 8.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,303 shares of the real estate investment trust’s stock after buying an additional 268 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in American Tower were worth $606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of AMT. FMR LLC grew its position in American Tower by 25.4% during the third quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after buying an additional 2,152,646 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares during the period. Adelante Capital Management LLC increased its stake in American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after purchasing an additional 775,379 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays cut their price target on American Tower from $251.00 to $215.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. upped their price target on shares of American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. The Goldman Sachs Group lowered their price target 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. Scotiabank reduced their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company downgraded American Tower from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $245.00 to $230.00 in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $230.67.

Read Our Latest Research Report on American Tower

American Tower Trading Up 0.2 %

NYSE AMT opened at $190.51 on Friday. The company has a market cap of $89.02 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.16 and a beta of 0.84. American Tower Co. has a 12 month low of $170.46 and a 12 month high of $243.56. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The company has a 50-day moving average of $192.86 and a 200-day moving average of $211.29.

American Tower (NYSE:AMTGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.89 EPS for the quarter, missing the consensus estimate of $2.45 by ($1.56). American Tower had a return on equity of 22.01% and a net margin of 10.05%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company posted $2.58 EPS. The business’s revenue for the quarter was down 10.5% on a year-over-year basis. As a group, equities analysts predict that American Tower Co. will post 10.15 earnings per share for the current year.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, December 27th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

American Tower Profile

(Free Report)

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.

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Want to see what other hedge funds are holding AMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Tower Co. (NYSE:AMTFree Report).

Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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