Kestra Private Wealth Services LLC Raises Position in American Tower Co. (NYSE:AMT)

Kestra Private Wealth Services LLC boosted its position in shares of American Tower Co. (NYSE:AMT) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,137 shares of the real estate investment trust’s stock after buying an additional 1,722 shares during the period. Kestra Private Wealth Services LLC’s holdings in American Tower were worth $5,894,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AMT. Balentine LLC acquired a new position in American Tower in the 3rd quarter valued at $586,000. Nordea Investment Management AB lifted its position in American Tower by 28.5% during the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock worth $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in American Tower during the third quarter worth $1,156,000. Brookstone Capital Management grew its holdings in American Tower by 29.0% in the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock valued at $1,629,000 after buying an additional 1,995 shares in the last quarter. Finally, CCLA Investment Management increased its stake in shares of American Tower by 5.5% in the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock worth $79,344,000 after acquiring an additional 22,523 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction 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 transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent analyst reports. 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 report on Tuesday, January 28th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. BMO Capital Markets lowered their price target 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. Wells Fargo & Company cut their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Scotiabank lowered their target price on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. Four 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.23.

American Tower Stock Down 0.4 %

AMT stock opened at $188.91 on Monday. The company’s 50 day moving average price is $188.44 and its 200 day moving average price is $209.63. The firm has a market capitalization of $88.28 billion, a price-to-earnings ratio of 79.71, a PEG ratio of 1.27 and a beta of 0.84. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders 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 3.43%. The ex-dividend date was Friday, December 27th. American Tower’s dividend 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.