State of Alaska Department of Revenue Acquires 2,362 Shares of American Tower Co. (NYSE:AMT)

State of Alaska Department of Revenue raised its holdings in shares of American Tower Co. (NYSE:AMT) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,764 shares of the real estate investment trust’s stock after buying an additional 2,362 shares during the period. American Tower comprises approximately 0.6% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 19th biggest position. State of Alaska Department of Revenue owned 0.06% of American Tower worth $51,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank lifted its stake in shares of American Tower by 6.9% in the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock valued at $22,128,000 after purchasing an additional 6,163 shares during the period. Diversified Trust Co boosted its stake in American Tower by 66.8% during the 3rd quarter. Diversified Trust Co now owns 4,750 shares of the real estate investment trust’s stock worth $1,105,000 after purchasing an additional 1,902 shares during the period. Atomi Financial Group Inc. raised its stake in shares of American Tower by 29.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 6,810 shares of the real estate investment trust’s stock worth $1,584,000 after buying an additional 1,560 shares in the last quarter. CWM LLC raised its position in American Tower by 0.6% during the third quarter. CWM LLC now owns 12,517 shares of the real estate investment trust’s stock worth $2,911,000 after acquiring an additional 78 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of American Tower by 10.4% during the third quarter. Wedmont Private Capital now owns 3,102 shares of the real estate investment trust’s stock valued at $693,000 after acquiring an additional 293 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Mizuho dropped their price target 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 downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Scotiabank reduced their price target on American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Finally, Wells Fargo & Company reduced their target price on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, American Tower currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.23.

American Tower Stock Performance

Shares of American Tower stock opened at $187.53 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The company has a 50 day moving average price of $189.66 and a 200 day moving average price of $210.06. The firm has a market capitalization of $87.63 billion, a P/E ratio of 79.13, a PEG ratio of 1.24 and a beta of 0.84. American Tower Co. has a 52 week low of $170.46 and a 52 week high of $243.56.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at approximately $11,371,631.20. This represents a 20.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by corporate 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.