Patron Partners LLC Has $661,000 Stake in American Tower Co. (NYSE:AMT)

Patron Partners LLC boosted its position in American Tower Co. (NYSE:AMT) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,604 shares of the real estate investment trust’s stock after purchasing an additional 232 shares during the period. Patron Partners LLC’s holdings in American Tower were worth $661,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AMT. CX Institutional grew its holdings in American Tower by 2.9% during the 3rd 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. Palumbo Wealth Management LLC lifted its position in American Tower by 1.6% during the 3rd quarter. Palumbo Wealth Management LLC now owns 3,714 shares of the real estate investment trust’s stock worth $864,000 after acquiring an additional 57 shares during the period. Rehmann Capital Advisory Group lifted its holdings in American Tower by 4.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,426 shares of the real estate investment trust’s stock valued at $332,000 after purchasing an additional 58 shares in the last quarter. Precedent Wealth Partners LLC grew its stake in shares of American Tower by 4.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 1,281 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 58 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of American Tower by 5.3% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,179 shares of the real estate investment trust’s stock worth $274,000 after acquiring an additional 59 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMT has been the topic of a number of research reports. Wells Fargo & Company lowered their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Scotiabank dropped their price objective on shares of 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. The Goldman Sachs Group dropped their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Mizuho lowered their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Barclays cut their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.23.

Insider Buying and Selling at American Tower

In other American Tower 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 transaction of $3,000,283.70. Following the sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE AMT opened at $185.53 on Tuesday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. The firm’s fifty day moving average price is $190.58 and its two-hundred day moving average price is $210.42. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm has a market capitalization of $86.70 billion, a P/E ratio of 78.28, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

American Tower Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

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.