Tanglewood Legacy Advisors LLC Acquires Shares of 372 American Tower Co. (NYSE:AMT)

Tanglewood Legacy Advisors LLC bought a new position in shares of American Tower Co. (NYSE:AMT) during the 4th quarter, Holdings Channel.com reports. The fund bought 372 shares of the real estate investment trust’s stock, valued at approximately $68,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% during the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the period. Northwest Investment Counselors LLC bought a new stake in American Tower during the 3rd quarter worth $30,000. Hara Capital LLC bought a new stake in shares of American Tower during the third quarter worth about $31,000. Roxbury Financial LLC acquired a new position in American Tower in the 4th quarter valued at approximately $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in American Tower in the third quarter valued at $34,000. 92.69% of the stock is owned by institutional investors and hedge funds.

American Tower Price Performance

AMT opened at $189.41 on Friday. The firm has a 50-day moving average price of $186.70 and a 200-day moving average price of $208.89. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays lowered their price target on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Mizuho cut their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citizens Jmp raised shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com cut American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, Citigroup reduced their price objective on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

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.