American Tower Co. (NYSE:AMT) Shares Purchased by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its position in American Tower Co. (NYSE:AMT) by 7.6% in the 4th quarter, Holdings Channel reports. The fund owned 1,455 shares of the real estate investment trust’s stock after acquiring an additional 103 shares during the period. Parcion Private Wealth LLC’s holdings in American Tower were worth $267,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 78 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $30,000. Hara Capital LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $31,000. Roxbury Financial LLC acquired a new stake in shares of American Tower in the 4th quarter worth $32,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of American Tower in the 3rd quarter worth $34,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

AMT has been the subject of several recent analyst reports. Barclays reduced their target price on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank reduced 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 note on Thursday, January 23rd. The Goldman Sachs Group reduced their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, BMO Capital Markets reduced their price objective on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four research 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’s stock. Based on data from MarketBeat.com, American Tower presently has an average rating of “Moderate Buy” and a consensus price target of $225.79.

Insider Transactions at American Tower

In other news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

American Tower Stock Performance

NYSE:AMT opened at $188.55 on Thursday. 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 50-day moving average price of $185.89 and a two-hundred day moving average price of $207.99. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56. The company has a market capitalization of $88.11 billion, a P/E ratio of 79.56, a price-to-earnings-growth ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were issued a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.44%. American Tower’s dividend payout ratio (DPR) is currently 273.42%.

American Tower 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.