Capital Investment Advisors LLC lowered its holdings in American Tower Co. (NYSE:AMT – Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,840 shares of the real estate investment trust’s stock after selling 115 shares during the quarter. Capital Investment Advisors LLC’s holdings in American Tower were worth $521,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of AMT. FMR LLC raised its position in shares of American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock worth $2,474,934,000 after acquiring an additional 2,152,646 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of American Tower by 41.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 6,395,906 shares of the real estate investment trust’s stock worth $1,243,333,000 after acquiring an additional 1,885,421 shares in the last quarter. Adelante Capital Management LLC raised its position in shares of American Tower by 2,723.4% in the 3rd quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock worth $279,890,000 after acquiring an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of American Tower by 23,224.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after acquiring an additional 993,061 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of American Tower by 22,242.7% in the 3rd quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after acquiring an additional 775,379 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.
American Tower Stock Up 0.8 %
AMT stock opened at $180.31 on Thursday. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56. The business has a fifty day moving average price of $193.58 and a 200-day moving average price of $211.68. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The stock has a market capitalization of $84.26 billion, a P/E ratio of 76.08, a P/E/G ratio of 1.31 and a beta of 0.84.
American Tower Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, December 27th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Friday, December 27th. American Tower’s dividend payout ratio is currently 273.42%.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. The Goldman Sachs Group decreased their target price on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Scotiabank decreased their target price on American Tower from $248.00 to $236.00 and set a “sector outperform” rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company lowered American Tower from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $230.00 in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price objective on American Tower from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Mizuho lowered their price objective on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.67.
Get Our Latest Stock Analysis on AMT
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.
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