Mcdonald Partners LLC Grows Stock Holdings in American Tower Co. (NYSE:AMT)

Mcdonald Partners LLC grew its holdings in American Tower Co. (NYSE:AMT) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,055 shares of the real estate investment trust’s stock after acquiring an additional 250 shares during the period. Mcdonald Partners LLC’s holdings in American Tower were worth $1,294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Balentine LLC purchased a new position in American Tower in the third quarter valued at about $586,000. Nordea Investment Management AB lifted its position in American Tower by 28.5% during the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after acquiring an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in American Tower in the 3rd quarter worth approximately $1,156,000. Brookstone Capital Management grew its position in American Tower by 29.0% in the fourth quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after acquiring an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management raised its stake in shares of American Tower by 5.5% during the fourth quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after purchasing an additional 22,523 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the firm’s 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT opened at $189.41 on Tuesday. The stock has a market capitalization of $88.51 billion, a PE ratio of 79.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. The business’s fifty day moving average price is $186.31 and its 200 day moving average price is $208.44. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56.

American Tower Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.42%. American Tower’s payout ratio is currently 273.42%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities assumed coverage on shares of American Tower in a research note on Monday, January 27th. They issued an “outperform” rating and a $225.00 target price for the company. Wells Fargo & Company decreased their price objective 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. Mizuho dropped their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citizens Jmp raised American Tower to a “strong-buy” rating in a report on Monday, January 27th. Finally, Barclays dropped their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and an average price target of $225.79.

American Tower Company 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.