American Tower Co. (NYSE:AMT) Shares Bought by Assetmark Inc.

Assetmark Inc. raised its position in American Tower Co. (NYSE:AMT) by 524.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,770 shares of the real estate investment trust’s stock after purchasing an additional 12,406 shares during the quarter. Assetmark Inc.’s holdings in American Tower were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AMT. Roxbury Financial LLC bought a new position in shares of American Tower in the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the third quarter valued at approximately $34,000. Activest Wealth Management boosted its holdings in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in shares of American Tower in the fourth quarter valued at approximately $46,000. Finally, Versant Capital Management Inc boosted its holdings in shares of American Tower by 113.9% in the fourth quarter. Versant Capital Management Inc now owns 261 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 139 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a report on Monday, January 27th. Mizuho decreased their price objective on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. JMP Securities began coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price objective for the company. Hsbc Global Res upgraded shares of American Tower to a “strong-buy” rating in a report on Thursday, February 27th. Finally, Morgan Stanley reduced their target price on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $225.21.

American Tower Trading Up 2.7 %

American Tower stock opened at $212.49 on Monday. The company has a 50 day moving average price of $189.60 and a 200 day moving average price of $206.21. 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 firm has a market capitalization of $99.29 billion, a price-to-earnings ratio of 89.66, a P/E/G ratio of 1.29 and a beta of 0.85.

American Tower (NYSE:AMT) last posted its quarterly earnings data on Tuesday, February 25th. The real estate investment trust reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.83. American Tower had a net margin of 10.05% and a return on equity of 22.01%. The firm had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the business posted $2.29 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Research analysts forecast that American Tower Co. will post 10.14 EPS for the current year.

American Tower Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, April 11th will be given a $1.70 dividend. This is an increase from American Tower’s previous quarterly dividend of $1.62. The ex-dividend date is Friday, April 11th. This represents a $6.80 dividend on an annualized basis and a yield of 3.20%. American Tower’s dividend payout ratio is presently 134.72%.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred 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. This represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

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.