Kestra Private Wealth Services LLC Buys 1,722 Shares of American Tower Co. (NYSE:AMT)

Kestra Private Wealth Services LLC lifted its stake in American Tower Co. (NYSE:AMT) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,137 shares of the real estate investment trust’s stock after acquiring an additional 1,722 shares during the period. Kestra Private Wealth Services LLC’s holdings in American Tower were worth $5,894,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fortitude Family Office LLC raised its holdings in American Tower by 269.0% in the third quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 78 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of American Tower during the 3rd quarter worth approximately $30,000. Hara Capital LLC purchased a new stake in American Tower during the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC acquired a new stake in American Tower in the third quarter valued at approximately $34,000. Finally, Activest Wealth Management increased its position in shares of American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 125 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on AMT. Citizens Jmp raised American Tower to a “strong-buy” rating in a research report on Monday, January 27th. The Goldman Sachs Group dropped their price target on American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. 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 research report on Wednesday, January 8th. Barclays dropped their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, JMP Securities started coverage on shares of American Tower in a report on Monday, January 27th. They issued an “outperform” rating and a $225.00 price target for the company. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average target price of $226.23.

Insider Buying and Selling at American Tower

In related news, CFO Rodney M. Smith sold 16,567 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 62,792 shares in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

American Tower Price Performance

NYSE:AMT opened at $188.91 on Monday. The firm’s fifty day moving average is $188.44 and its two-hundred day moving average is $209.63. The firm has a market cap of $88.28 billion, a price-to-earnings ratio of 79.71, a PEG ratio of 1.27 and a beta of 0.84. American Tower Co. has a one year low of $170.46 and a one year 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.

American Tower Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is currently 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.