American Tower Co. (NYSE:AMT) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in shares of American Tower Co. (NYSE:AMT) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,746 shares of the real estate investment trust’s stock after purchasing an additional 2,136 shares during the period. CIBC Asset Management Inc’s holdings in American Tower were worth $16,644,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning raised its holdings in shares of American Tower by 7.1% in the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock valued at $17,591,000 after buying an additional 4,999 shares during the period. Good Life Advisors LLC acquired a new stake in shares of American Tower during the third quarter worth about $201,000. Blue Trust Inc. boosted its stake in shares of American Tower by 35.3% in the third quarter. Blue Trust Inc. now owns 5,177 shares of the real estate investment trust’s stock valued at $1,204,000 after purchasing an additional 1,350 shares during the period. Capital Investment Advisors LLC increased its stake in American Tower by 14.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 2,955 shares of the real estate investment trust’s stock worth $687,000 after buying an additional 368 shares during the period. Finally, Resonant Capital Advisors LLC acquired a new stake in American Tower during the 3rd quarter worth approximately $245,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Price Performance

Shares of NYSE:AMT opened at $189.41 on Tuesday. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company 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 stock has a fifty day moving average of $186.70 and a 200-day moving average of $208.71. American Tower Co. has a one year low of $170.46 and a one year high of $243.56.

American Tower Dividend Announcement

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

Insider Buying and Selling

In other 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 transaction, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMT. Mizuho reduced their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on 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. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank decreased their price target 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. Finally, Citigroup dropped their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday. Four 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. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and an average target price of $225.79.

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.