Arlington Trust Co LLC Boosts Stake in American Tower Co. (NYSE:AMT)

Arlington Trust Co LLC boosted its holdings in shares of American Tower Co. (NYSE:AMT) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,395 shares of the real estate investment trust’s stock after acquiring an additional 225 shares during the period. Arlington Trust Co LLC’s holdings in American Tower were worth $256,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Balentine LLC acquired a new stake in shares of American Tower in the third quarter valued at approximately $586,000. Nordea Investment Management AB grew its holdings in American Tower by 28.5% in the 4th quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after buying an additional 314,769 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of American Tower in the 3rd quarter worth $1,156,000. Brookstone Capital Management raised its holdings in shares of American Tower by 29.0% during the 4th quarter. Brookstone Capital Management now owns 8,879 shares of the real estate investment trust’s stock worth $1,629,000 after acquiring an additional 1,995 shares during the period. Finally, CCLA Investment Management boosted its position in shares of American Tower by 5.5% during the 4th quarter. CCLA Investment Management now owns 432,891 shares of the real estate investment trust’s stock valued at $79,344,000 after acquiring an additional 22,523 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $188.91 on Monday. 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 company has a market cap of $88.28 billion, a P/E ratio of 79.71, a P/E/G ratio of 1.27 and a beta of 0.84. The stock has a 50-day moving average of $188.44 and a two-hundred day moving average of $209.63. American Tower Co. has a 1-year low of $170.46 and a 1-year high of $243.56.

American Tower Dividend Announcement

The firm also recently announced 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 3.43%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is currently 273.42%.

Insider Buying and Selling at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 62,792 shares in the company, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMT has been the subject of several recent analyst reports. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets cut their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. JMP Securities initiated coverage on American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective on the stock. Barclays cut their target price on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, Mizuho decreased their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, American Tower has a consensus rating of “Moderate Buy” and a consensus target price of $226.23.

American Tower 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.