Blue Trust Inc. Boosts Position in American Tower Co. (NYSE:AMT)

Blue Trust Inc. raised its stake in American Tower Co. (NYSE:AMT) by 6.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,526 shares of the real estate investment trust’s stock after buying an additional 349 shares during the period. Blue Trust Inc.’s holdings in American Tower were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Creative Planning increased its holdings in American Tower by 7.1% during the 3rd quarter. Creative Planning now owns 75,640 shares of the real estate investment trust’s stock worth $17,591,000 after purchasing an additional 4,999 shares during the period. Good Life Advisors LLC purchased a new position in shares of American Tower during the third quarter valued at $201,000. Global Retirement Partners LLC increased its stake in shares of American Tower by 4.4% during the third quarter. Global Retirement Partners LLC now owns 8,010 shares of the real estate investment trust’s stock valued at $1,863,000 after buying an additional 338 shares during the period. Bleakley Financial Group LLC raised its holdings in shares of American Tower by 1.4% in the third quarter. Bleakley Financial Group LLC now owns 7,987 shares of the real estate investment trust’s stock valued at $1,857,000 after acquiring an additional 109 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in American Tower by 4.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,667 shares of the real estate investment trust’s stock worth $13,178,000 after acquiring an additional 2,269 shares during the period. 92.69% of the stock is currently owned by institutional investors.

American Tower Trading Down 0.3 %

Shares of American Tower stock opened at $189.41 on Friday. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm’s 50 day simple moving average is $186.70 and its two-hundred day simple moving average is $208.89. 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 has a market capitalization of $88.51 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors 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 dividend on an annualized basis and a yield of 3.42%. American Tower’s dividend payout ratio (DPR) is 273.42%.

Insiders Place Their Bets

In other news, CFO Rodney M. Smith sold 16,567 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total value of $3,000,283.70. Following the completion of the transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AMT has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. JMP Securities began coverage on American Tower in a report on Monday, January 27th. They set an “outperform” rating and a $225.00 target price for the company. Wells Fargo & Company dropped their target price on 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. Mizuho reduced their price target on American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com lowered American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.