American Tower Co. (NYSE:AMT) Position Increased by Empowered Funds LLC

Empowered Funds LLC increased its position in shares of American Tower Co. (NYSE:AMTGet Rating) by 7.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,823 shares of the real estate investment trust’s stock after buying an additional 326 shares during the quarter. Empowered Funds LLC’s holdings in American Tower were worth $1,035,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AMT. Jennison Associates LLC increased its position in American Tower by 180.2% during the second quarter. Jennison Associates LLC now owns 4,254,374 shares of the real estate investment trust’s stock worth $1,087,375,000 after buying an additional 2,736,149 shares during the last quarter. Public Investment Fund acquired a new position in American Tower during the second quarter worth $483,831,000. Deutsche Bank AG increased its position in American Tower by 43.5% during the second quarter. Deutsche Bank AG now owns 6,201,455 shares of the real estate investment trust’s stock worth $1,585,028,000 after buying an additional 1,879,086 shares during the last quarter. FMR LLC increased its position in American Tower by 23.3% during the second quarter. FMR LLC now owns 9,329,088 shares of the real estate investment trust’s stock worth $2,384,422,000 after buying an additional 1,762,240 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in American Tower by 33.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,101,466 shares of the real estate investment trust’s stock worth $1,303,883,000 after buying an additional 1,270,504 shares during the last quarter. 89.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American Tower news, Director Joann A. Reed sold 1,231 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $204.88, for a total transaction of $252,207.28. Following the completion of the transaction, the director now owns 54,554 shares in the company, valued at $11,177,023.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other American Tower news, Director Joann A. Reed sold 1,231 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $204.88, for a total transaction of $252,207.28. Following the completion of the transaction, the director now owns 54,554 shares in the company, valued at $11,177,023.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond P. Dolan sold 1,619 shares of the firm’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $233.92, for a total transaction of $378,716.48. Following the transaction, the director now owns 17,473 shares of the company’s stock, valued at approximately $4,087,284.16. The disclosure for this sale can be found here. Insiders sold a total of 43,079 shares of company stock worth $9,071,929 over the last quarter. Company insiders own 0.24% of the company’s stock.

American Tower Stock Down 0.2 %

AMT stock opened at $215.17 on Wednesday. The company has a market cap of $100.19 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 1.98 and a beta of 0.54. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.87. American Tower Co. has a twelve month low of $178.17 and a twelve month high of $282.47. The business’s 50-day simple moving average is $217.67 and its 200 day simple moving average is $230.48.

American Tower Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 2nd. Shareholders of record on Wednesday, December 28th will be paid a dividend of $1.56 per share. This is a boost from American Tower’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 27th. This represents a $6.24 dividend on an annualized basis and a yield of 2.90%. American Tower’s dividend payout ratio (DPR) is currently 99.05%.

Analyst Ratings Changes

Several equities analysts have commented on AMT shares. Raymond James increased their target price on shares of American Tower from $219.00 to $233.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 23rd. The Goldman Sachs Group raised American Tower from a “neutral” rating to a “buy” rating and raised their price target for the company from $215.00 to $245.00 in a research report on Tuesday, January 10th. Royal Bank of Canada lowered their price target on American Tower from $265.00 to $240.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 1st. Wells Fargo & Company raised their price target on American Tower from $225.00 to $245.00 in a research report on Wednesday, December 14th. Finally, Morgan Stanley raised their price target on American Tower from $219.00 to $224.00 and gave the company an “equal weight” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.06.

About American Tower

(Get Rating)

American Tower Corp. provides real estate investment services, and owns, operates, and develops multi-tenant real estate properties. It operates through the following segments: U.S. & Canada, Asia-Pacific, Europe, Africa Latin America, and Services. The Asia-Pacific segment refers to the operations in Australia and India.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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