Asset Planning Inc Buys New Position in American Tower Co. (NYSE:AMT)

Asset Planning Inc bought a new stake in shares of American Tower Co. (NYSE:AMT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 266 shares of the real estate investment trust’s stock, valued at approximately $49,000.

Several other large investors have also bought and sold shares of AMT. CX Institutional boosted its stake in American Tower by 2.9% during the third quarter. CX Institutional now owns 1,933 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 54 shares in the last quarter. Creative Planning boosted its position in shares of American Tower by 7.1% in the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock valued at $17,591,000 after purchasing an additional 4,999 shares during the period. SPC Financial Inc. boosted its position in shares of American Tower by 4.1% in the 3rd quarter. SPC Financial Inc. now owns 3,071 shares of the real estate investment trust’s stock valued at $714,000 after purchasing an additional 120 shares during the period. Good Life Advisors LLC acquired a new position in shares of American Tower in the 3rd quarter valued at $201,000. Finally, Global Retirement Partners LLC boosted its position in shares of American Tower by 4.4% in the 3rd quarter. Global Retirement Partners LLC now owns 8,010 shares of the real estate investment trust’s stock valued at $1,863,000 after purchasing an additional 338 shares during the period. Institutional investors own 92.69% of the company’s stock.

Insider Activity

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the completion of the sale, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by corporate insiders.

American Tower Stock Down 0.3 %

Shares of American Tower stock opened at $189.41 on Friday. The firm has a market cap of $88.51 billion, a price-to-earnings ratio of 79.92, a P/E/G ratio of 1.27 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The stock has a 50-day simple moving average of $187.05 and a 200-day simple moving average of $209.07.

American Tower Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. American Tower’s dividend payout ratio is 273.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Citigroup decreased their price target on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets decreased their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Scotiabank decreased 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. Finally, Barclays reduced their price objective 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. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.79.

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.