Calamos Wealth Management LLC Purchases 61 Shares of American Tower Co. (NYSE:AMT)

Calamos Wealth Management LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,172 shares of the real estate investment trust’s stock after buying an additional 61 shares during the quarter. Calamos Wealth Management LLC’s holdings in American Tower were worth $398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. CX Institutional raised its position in American Tower by 2.9% during the 3rd quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 54 shares during the last quarter. Palumbo Wealth Management LLC increased its stake in shares of American Tower by 1.6% in the third quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 57 shares during the period. Rehmann Capital Advisory Group raised its position in shares of American Tower by 4.2% during the third quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 58 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares during the period. Finally, Sivia Capital Partners LLC boosted its holdings in American Tower by 5.3% in the third quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock valued at $274,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AMT. The Goldman Sachs Group dropped 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. JMP Securities initiated coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. BMO Capital Markets lowered their price objective on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citizens Jmp upgraded American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company lowered their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Four 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’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.23.

Insider Buying and Selling

In other 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 sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.

American Tower Stock Performance

NYSE AMT opened at $184.21 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a fifty day simple moving average of $190.14 and a 200 day simple moving average of $210.25. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The company has a market cap of $86.08 billion, a P/E ratio of 77.73, a PEG ratio of 1.24 and a beta of 0.84.

American Tower Announces Dividend

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 was Friday, December 27th. American Tower’s payout ratio is presently 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.