Jericho Financial LLP Makes New Investment in American Tower Co. (NYSE:AMT)

Jericho Financial LLP purchased a new stake in shares of American Tower Co. (NYSE:AMT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,618 shares of the real estate investment trust’s stock, valued at approximately $2,131,000. American Tower accounts for approximately 1.5% of Jericho Financial LLP’s investment portfolio, making the stock its 26th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Czech National Bank boosted its stake in shares of American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the last quarter. GAMMA Investing LLC raised its holdings in American Tower by 34.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,871 shares of the real estate investment trust’s stock worth $1,598,000 after purchasing an additional 1,757 shares during the period. Diversified Trust Co lifted its position in American Tower by 66.8% during the third quarter. Diversified Trust Co now owns 4,750 shares of the real estate investment trust’s stock valued at $1,105,000 after purchasing an additional 1,902 shares in the last quarter. Everpar Advisors LLC increased its position in American Tower by 11.8% in the third quarter. Everpar Advisors LLC now owns 2,047 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 216 shares in the last quarter. Finally, Aprio Wealth Management LLC raised its stake in shares of American Tower by 20.1% in the third quarter. Aprio Wealth Management LLC now owns 2,327 shares of the real estate investment trust’s stock worth $541,000 after buying an additional 390 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was 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 directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

AMT has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Scotiabank reduced their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. The Goldman Sachs Group lowered 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 note on Thursday, December 12th. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Finally, StockNews.com downgraded American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, American Tower has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Trading Down 0.6 %

Shares of AMT opened at $184.21 on Wednesday. The stock has a market capitalization of $86.08 billion, a PE ratio of 77.73, a P/E/G ratio of 1.24 and a beta of 0.84. The company’s fifty day moving average is $190.14 and its 200 day moving average is $210.25. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56.

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 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

About American Tower

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.