LDR Capital Management LLC Has $2.94 Million Stock Holdings in American Tower Co. (NYSE:AMT)

LDR Capital Management LLC increased its position in shares of American Tower Co. (NYSE:AMT) by 96.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,015 shares of the real estate investment trust’s stock after buying an additional 7,877 shares during the quarter. American Tower makes up 4.0% of LDR Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. LDR Capital Management LLC’s holdings in American Tower were worth $2,937,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AMT. Palumbo Wealth Management LLC raised its stake in American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock valued at $864,000 after purchasing an additional 57 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in American Tower by 4.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in shares of American Tower by 4.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock valued at $235,000 after buying an additional 58 shares in the last quarter. Fullcircle Wealth LLC raised its stake in shares of American Tower by 1.2% in the 3rd quarter. Fullcircle Wealth LLC now owns 5,053 shares of the real estate investment trust’s stock valued at $1,123,000 after buying an additional 61 shares in the last quarter. Finally, Resonant Capital Advisors LLC raised its stake in shares of American Tower by 5.8% in the 4th quarter. Resonant Capital Advisors LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 61 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

American Tower Stock Down 0.5 %

American Tower stock opened at $191.32 on Friday. The company’s 50 day simple moving average is $185.67 and its 200 day simple moving average is $207.64. American Tower Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a market capitalization of $89.40 billion, a price-to-earnings ratio of 80.73, a PEG ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69.

American Tower Dividend Announcement

The company 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. This represents a $6.48 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the subject of a number of recent research reports. Mizuho dropped their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Citigroup dropped 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 note on Friday, February 14th. 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 research note on Thursday, January 23rd. Finally, BMO Capital Markets dropped their target price on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.79.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $181.10, for a total transaction 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 trade represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by insiders.

About American Tower

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.