Spire Wealth Management lessened its holdings in shares of American Tower Co. (NYSE:AMT – Free Report) by 16.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,818 shares of the real estate investment trust’s stock after selling 1,503 shares during the period. Spire Wealth Management’s holdings in American Tower were worth $1,286,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Loudon Investment Management LLC acquired a new stake in American Tower in the third quarter valued at $515,000. Locust Wood Capital Advisers LLC lifted its position in shares of American Tower by 0.4% in the third quarter. Locust Wood Capital Advisers LLC now owns 295,510 shares of the real estate investment trust’s stock valued at $48,597,000 after acquiring an additional 1,034 shares in the last quarter. Torray Investment Partners LLC lifted its position in shares of American Tower by 1.9% in the third quarter. Torray Investment Partners LLC now owns 25,972 shares of the real estate investment trust’s stock valued at $4,271,000 after acquiring an additional 494 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in shares of American Tower by 3.6% in the third quarter. Exencial Wealth Advisors LLC now owns 8,619 shares of the real estate investment trust’s stock valued at $1,417,000 after acquiring an additional 299 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of American Tower in the third quarter valued at $196,000. Institutional investors and hedge funds own 89.29% of the company’s stock.
Wall Street Analysts Forecast Growth
AMT has been the topic of several recent research reports. Wells Fargo & Company reduced their price objective on American Tower from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 17th. Barclays reduced their target price on American Tower from $229.00 to $224.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. StockNews.com upgraded American Tower from a “hold” rating to a “buy” rating in a research report on Tuesday. HSBC assumed coverage on American Tower in a research report on Thursday, December 14th. They set a “buy” rating and a $245.00 target price on the stock. Finally, Scotiabank initiated coverage on American Tower in a research report on Friday, October 13th. They set a “sector outperform” rating and a $208.00 target price on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $221.54.
American Tower Price Performance
AMT stock opened at $191.67 on Wednesday. The company has a debt-to-equity ratio of 3.15, a quick ratio of 0.73 and a current ratio of 0.73. American Tower Co. has a 1 year low of $154.58 and a 1 year high of $220.49. The firm has a market cap of $89.35 billion, a P/E ratio of 125.28, a price-to-earnings-growth ratio of 1.49 and a beta of 0.68. The stock has a 50-day simple moving average of $207.79 and a 200-day simple moving average of $189.05.
American Tower Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Thursday, December 28th were paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Wednesday, December 27th. This is a positive change from American Tower’s previous quarterly dividend of $1.62. American Tower’s dividend payout ratio (DPR) is 444.45%.
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 nearly 225,000 communications sites and a highly interconnected footprint of U.S. data center facilities.
- Five stocks we like better than American Tower
- 3 Small Caps With Big Return Potential
- Ulta Beauty set for a breakout to new highs
- Why Invest in High-Yield Dividend Stocks?
- Exxon and Chevron ready to rally: The floor is in for big oil
- Following Congress Stock Trades
- Analysts jumped on this stock ahead of earnings; markets love it
Receive News & Ratings for American Tower Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Tower and related companies with MarketBeat.com's FREE daily email newsletter.