American Tower Co. (NYSE:AMT) Shares Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC lifted its stake in American Tower Co. (NYSE:AMT) by 7.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,455 shares of the real estate investment trust’s stock after acquiring an additional 103 shares during the quarter. Parcion Private Wealth LLC’s holdings in American Tower were worth $267,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AMT. FMR LLC lifted its holdings in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC lifted its holdings in shares of 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 worth $279,890,000 after acquiring an additional 1,160,890 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares during the last quarter. International Assets Investment Management LLC increased its stake in American Tower by 22,242.7% during the 3rd 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 buying an additional 775,379 shares during the period. Finally, State Street Corp increased its stake in American Tower by 3.1% during the 3rd quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock worth $4,924,091,000 after buying an additional 635,726 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. BMO Capital Markets cut their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group cut 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. Finally, Wells Fargo & Company cut their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $225.79.

American Tower Trading Down 0.5 %

NYSE AMT opened at $188.55 on Thursday. 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 firm’s fifty day moving average price is $185.89 and its 200 day moving average price is $207.99. The company has a market capitalization of $88.11 billion, a price-to-earnings ratio of 79.56, a price-to-earnings-growth ratio of 1.27 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.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insider Activity at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction 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 in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.18% of the company’s stock.

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.