Capital International Sarl raised its position in shares of American Tower Corp (NYSE:AMT) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,191 shares of the real estate investment trust’s stock after acquiring an additional 2,263 shares during the quarter. Capital International Sarl’s holdings in American Tower were worth $6,249,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Wesbanco Bank Inc. grew its position in American Tower by 1.0% in the fourth quarter. Wesbanco Bank Inc. now owns 4,145 shares of the real estate investment trust’s stock worth $952,000 after acquiring an additional 40 shares during the period. Fiera Capital Corp grew its position in American Tower by 3.4% in the fourth quarter. Fiera Capital Corp now owns 1,301 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 43 shares during the period. Ballentine Partners LLC boosted its position in shares of American Tower by 1.5% during the fourth quarter. Ballentine Partners LLC now owns 3,074 shares of the real estate investment trust’s stock worth $707,000 after buying an additional 45 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of American Tower by 0.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 10,231 shares of the real estate investment trust’s stock worth $2,351,000 after buying an additional 46 shares during the period. Finally, IHT Wealth Management LLC boosted its position in shares of American Tower by 1.6% during the third quarter. IHT Wealth Management LLC now owns 3,012 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 48 shares during the period. 92.24% of the stock is owned by institutional investors and hedge funds.
American Tower stock traded up $17.17 during midday trading on Thursday, reaching $216.43. The company’s stock had a trading volume of 1,395,372 shares, compared to its average volume of 3,526,621. American Tower Corp has a fifty-two week low of $174.32 and a fifty-two week high of $258.62. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 5.03. The company has a market cap of $84.27 billion, a P/E ratio of 51.17, a P/E/G ratio of 1.28 and a beta of 0.41. The business has a 50-day simple moving average of $235.54 and a 200-day simple moving average of $225.48.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Tuesday, April 14th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from American Tower’s previous quarterly dividend of $1.01. American Tower’s payout ratio is 52.26%.
In other news, Director David E. Sharbutt sold 2,200 shares of American Tower stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $243.60, for a total transaction of $535,920.00. Following the sale, the director now owns 4,097 shares in the company, valued at $998,029.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Olivier Puech sold 1,186 shares of American Tower stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $222.71, for a total value of $264,134.06. Following the sale, the executive vice president now owns 19,626 shares in the company, valued at approximately $4,370,906.46. The disclosure for this sale can be found here. Insiders have sold 10,144 shares of company stock worth $2,332,308 in the last quarter. Insiders own 0.75% of the company’s stock.
Several research firms have recently commented on AMT. Raymond James upgraded American Tower from a “market perform” rating to an “outperform” rating and set a $211.00 price target for the company in a research report on Thursday. New Street Research upgraded American Tower from a “neutral” rating to a “buy” rating in a research report on Thursday, March 12th. KeyCorp raised their price target on American Tower from $254.00 to $273.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Goldman Sachs Group upgraded American Tower from a “neutral” rating to a “buy” rating and raised their price target for the stock from $204.00 to $270.00 in a research report on Monday, January 13th. Finally, Edward Jones upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $237.31.
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 approximately 171,000 communications sites.
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