Strengthening Families & Communities LLC Buys 323 Shares of American Tower Co. (NYSE:AMT)

Strengthening Families & Communities LLC raised its stake in American Tower Co. (NYSE:AMT) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,846 shares of the real estate investment trust’s stock after acquiring an additional 323 shares during the quarter. Strengthening Families & Communities LLC’s holdings in American Tower were worth $1,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMT. Balentine LLC bought a new position in American Tower in the 3rd quarter valued at approximately $586,000. Nordea Investment Management AB raised its holdings in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in American Tower in the 3rd quarter valued at approximately $1,156,000. Brookstone Capital Management raised 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 during the last quarter. Finally, CCLA Investment Management raised its holdings in 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 valued at $79,344,000 after buying an additional 22,523 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

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 directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

Shares of AMT stock opened at $189.85 on Tuesday. The company has a market cap of $88.71 billion, a price-to-earnings ratio of 80.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm has a 50 day moving average of $188.44 and a 200-day moving average of $209.63.

American Tower Dividend Announcement

The business also recently disclosed 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 3.41%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AMT. Scotiabank dropped their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a report on Thursday, January 23rd. StockNews.com lowered shares of American Tower from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Barclays decreased their target price 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. The Goldman Sachs Group decreased their target price on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.