American Tower Co. (NYSE:AMT) Shares Purchased by Pring Turner Capital Group Inc.

Pring Turner Capital Group Inc. grew its position in shares of American Tower Co. (NYSE:AMT) by 23.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,706 shares of the real estate investment trust’s stock after purchasing an additional 1,073 shares during the quarter. Pring Turner Capital Group Inc.’s holdings in American Tower were worth $1,047,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. FMR LLC lifted its position in American Tower by 25.4% in the 3rd quarter. FMR LLC now owns 10,642,133 shares of the real estate investment trust’s stock valued at $2,474,934,000 after purchasing an additional 2,152,646 shares during the last quarter. Adelante Capital Management LLC increased its stake in shares of American Tower by 2,723.4% in the third quarter. Adelante Capital Management LLC now owns 1,203,517 shares of the real estate investment trust’s stock valued at $279,890,000 after purchasing an additional 1,160,890 shares during the period. State Street Corp raised its holdings in shares of American Tower by 3.1% during the third quarter. State Street Corp now owns 21,173,423 shares of the real estate investment trust’s stock valued at $4,924,091,000 after buying an additional 635,726 shares during the last quarter. KBC Group NV boosted its position in shares of American Tower by 270.4% during the third quarter. KBC Group NV now owns 466,772 shares of the real estate investment trust’s stock worth $108,553,000 after buying an additional 340,742 shares during the period. Finally, Brookfield Corp ON grew its holdings in American Tower by 88.3% in the 3rd quarter. Brookfield Corp ON now owns 710,725 shares of the real estate investment trust’s stock worth $165,286,000 after buying an additional 333,209 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Insider Transactions at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower 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 transaction, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $11,371,631.20. This trade represents a 20.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on AMT shares. BMO Capital Markets cut their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. StockNews.com cut shares of American Tower from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Mizuho decreased their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. 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 price target on the stock. Finally, Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 23rd. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, American Tower has an average rating of “Moderate Buy” and a consensus price target of $227.00.

American Tower Trading Up 0.2 %

American Tower stock opened at $191.88 on Tuesday. The firm has a market cap of $89.66 billion, a price-to-earnings ratio of 80.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56. The firm’s 50 day moving average price is $185.63 and its two-hundred day moving average price is $207.14. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69.

American Tower Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

American Tower Company Profile

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.