Sumitomo Mitsui Trust Group Inc. Has $235.41 Million Stake in American Tower Co. (NYSE:AMT)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of American Tower Co. (NYSE:AMT) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,283,519 shares of the real estate investment trust’s stock after buying an additional 36,013 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of American Tower worth $235,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AMT. CWM LLC increased its holdings in shares of American Tower by 0.6% in the third quarter. CWM LLC now owns 12,517 shares of the real estate investment trust’s stock valued at $2,911,000 after purchasing an additional 78 shares in the last quarter. Wedmont Private Capital boosted its stake in American Tower by 10.4% in the 3rd quarter. Wedmont Private Capital now owns 3,102 shares of the real estate investment trust’s stock worth $693,000 after purchasing an additional 293 shares during the period. Watts Gwilliam & Co. LLC acquired a new position in American Tower in the 3rd quarter worth $364,000. LVW Advisors LLC bought a new stake in American Tower during the 3rd quarter worth about $361,000. Finally, West Coast Financial LLC lifted its position in American Tower by 0.9% during the 3rd quarter. West Coast Financial LLC now owns 42,967 shares of the real estate investment trust’s stock worth $9,992,000 after buying an additional 399 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The shares were 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. The trade was a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.18% of the company’s stock.

American Tower Stock Down 0.4 %

American Tower stock opened at $188.91 on Friday. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The stock has a market cap of $88.28 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The firm’s 50-day simple moving average is $188.84 and its 200 day simple moving average is $209.77. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Analyst Ratings Changes

Several research firms have weighed in on AMT. Mizuho lowered their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. 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 report on Thursday, December 12th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Barclays dropped their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company lowered their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

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.