Community Financial Services Group LLC Raises Holdings in American Tower Co. (NYSE:AMT)

Community Financial Services Group LLC raised its stake in American Tower Co. (NYSE:AMT) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,804 shares of the real estate investment trust’s stock after acquiring an additional 414 shares during the quarter. Community Financial Services Group LLC’s holdings in American Tower were worth $881,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC lifted its stake 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 valued at $25,000 after purchasing an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of American Tower in the third quarter worth about $30,000. Hara Capital LLC purchased a new stake in shares of American Tower during the 3rd quarter worth about $31,000. Legacy Investment Solutions LLC acquired a new stake in shares of American Tower during the 3rd quarter valued at about $34,000. Finally, Activest Wealth Management increased its stake in shares of American Tower by 431.0% in the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMT has been the topic of several research analyst reports. BMO Capital Markets dropped their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower Stock Performance

NYSE AMT opened at $193.45 on Wednesday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market capitalization of $90.40 billion, a P/E ratio of 81.63, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The stock’s fifty day moving average is $188.09 and its two-hundred day moving average is $209.49. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is currently 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.