Keynote Financial Services LLC acquired a new stake in shares of American Tower Co. (NYSE:AMT – Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,197 shares of the real estate investment trust’s stock, valued at approximately $237,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Cross Staff Investments Inc lifted its stake in American Tower by 5.1% during the 4th quarter. Cross Staff Investments Inc now owns 5,027 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 244 shares during the period. Anchor Capital Advisors LLC increased its holdings in shares of American Tower by 38.1% during the 4th quarter. Anchor Capital Advisors LLC now owns 76,625 shares of the real estate investment trust’s stock valued at $16,542,000 after purchasing an additional 21,139 shares in the last quarter. Meyer Handelman Co. purchased a new position in shares of American Tower during the 1st quarter valued at approximately $801,000. TD Asset Management Inc increased its holdings in shares of American Tower by 23.2% during the 4th quarter. TD Asset Management Inc now owns 275,428 shares of the real estate investment trust’s stock valued at $59,459,000 after purchasing an additional 51,882 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in shares of American Tower by 13.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 38,528 shares of the real estate investment trust’s stock valued at $7,613,000 after purchasing an additional 4,660 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.
American Tower Trading Up 2.9 %
Shares of AMT stock traded up $6.71 on Friday, hitting $234.64. 4,750,517 shares of the stock traded hands, compared to its average volume of 1,800,808. The firm’s 50-day moving average price is $201.02 and its two-hundred day moving average price is $194.19. American Tower Co. has a twelve month low of $154.58 and a twelve month high of $236.00. The company has a debt-to-equity ratio of 3.42, a quick ratio of 0.85 and a current ratio of 0.81. The stock has a market capitalization of $109.57 billion, a PE ratio of 53.09, a PEG ratio of 1.60 and a beta of 0.81.
American Tower Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 14th were given a $1.62 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.48 dividend on an annualized basis and a yield of 2.76%. American Tower’s payout ratio is currently 146.61%.
Analyst Ratings Changes
AMT has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of American Tower from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho initiated coverage on shares of American Tower in a report on Monday, April 8th. They issued a “neutral” rating and a $205.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of American Tower in a report on Monday, July 1st. They issued a “buy” rating and a $230.00 price target for the company. StockNews.com raised shares of American Tower from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Scotiabank boosted their price target on shares of American Tower from $223.00 to $248.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.42.
Insider Buying and Selling at American Tower
In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the sale, the executive vice president now directly owns 28,413 shares in the company, valued at $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by corporate insiders.
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.
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