Corps Capital Advisors LLC Buys Shares of 1,715 American Tower Co. (NYSE:AMT)

Corps Capital Advisors LLC bought a new stake in American Tower Co. (NYSE:AMT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,715 shares of the real estate investment trust’s stock, valued at approximately $315,000.

Several other hedge funds have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 3rd quarter valued at approximately $30,000. Oakworth Capital Inc. boosted its stake in shares of American Tower by 85.7% in the 3rd quarter. Oakworth Capital Inc. now owns 390 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 180 shares in the last quarter. Signaturefd LLC boosted its stake in shares of American Tower by 7.9% in the 3rd quarter. Signaturefd LLC now owns 8,004 shares of the real estate investment trust’s stock valued at $1,861,000 after purchasing an additional 585 shares in the last quarter. BLB&B Advisors LLC boosted its stake in shares of American Tower by 5.2% in the 3rd quarter. BLB&B Advisors LLC now owns 1,813 shares of the real estate investment trust’s stock valued at $422,000 after purchasing an additional 89 shares in the last quarter. Finally, Weaver Capital Management LLC boosted its stake in shares of American Tower by 2.7% in the 3rd quarter. Weaver Capital Management LLC now owns 8,901 shares of the real estate investment trust’s stock valued at $2,070,000 after purchasing an additional 233 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMT. Mizuho reduced their price target on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company cut their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research report on Monday, January 27th. Citigroup cut their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, JMP Securities began coverage on shares of American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.79.

American Tower Stock Down 0.5 %

Shares of NYSE AMT opened at $188.55 on Thursday. The company has a market capitalization of $88.11 billion, a P/E ratio of 79.56, a price-to-earnings-growth ratio of 1.27 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. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The company’s 50 day moving average price is $185.89 and its 200-day moving average price is $207.99.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 annualized dividend and a dividend yield of 3.44%. American Tower’s dividend payout ratio is currently 273.42%.

Insider Activity

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