Community Financial Services Group LLC Grows Holdings in American Tower Co. (NYSE:AMT)

Community Financial Services Group LLC boosted its stake in American Tower Co. (NYSE:AMT) by 9.4% in the 4th quarter, Holdings Channel reports. The firm owned 4,804 shares of the real estate investment trust’s stock after purchasing an additional 414 shares during the period. Community Financial Services Group LLC’s holdings in American Tower were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of 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 buying an additional 2,152,646 shares during the period. Adelante Capital Management LLC grew its position in American Tower by 2,723.4% in the 3rd 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 acquiring an additional 1,160,890 shares in the last quarter. Pathway Financial Advisers LLC increased its stake in American Tower by 23,224.1% during the third quarter. Pathway Financial Advisers LLC now owns 997,337 shares of the real estate investment trust’s stock worth $231,941,000 after purchasing an additional 993,061 shares during the period. International Assets Investment Management LLC lifted its position in shares of American Tower by 22,242.7% during the third quarter. International Assets Investment Management LLC now owns 778,865 shares of the real estate investment trust’s stock worth $1,811,330,000 after purchasing an additional 775,379 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of American Tower by 3.1% in 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 purchasing an additional 635,726 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

American Tower Stock Up 1.9 %

AMT stock opened at $193.45 on Wednesday. The stock has a market cap of $90.40 billion, a P/E ratio of 81.63, a PEG ratio of 1.27 and a beta of 0.84. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 3.27. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company’s 50 day moving average is $188.09 and its two-hundred day moving average is $209.49.

American Tower Announces Dividend

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 $1.62 dividend. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.35%. American Tower’s dividend payout ratio (DPR) is presently 273.42%.

Wall Street Analysts Forecast Growth

AMT has been the topic of several recent research reports. Mizuho cut their target price on shares of American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Scotiabank cut their price objective on American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. BMO Capital Markets decreased their target price on American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company cut their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays decreased their price objective on American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, American Tower has an average rating of “Moderate Buy” and a consensus 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 firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the transaction, the chief financial officer now owns 62,792 shares in the company, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is currently owned by insiders.

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.