Green Alpha Advisors LLC lowered its stake in shares of American Tower Co. (NYSE:AMT – Free Report) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,484 shares of the real estate investment trust’s stock after selling 328 shares during the period. Green Alpha Advisors LLC’s holdings in American Tower were worth $639,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Balentine LLC purchased a new stake in American Tower during the 3rd quarter worth about $586,000. Nordea Investment Management AB boosted its position in shares of American Tower by 28.5% in the fourth quarter. Nordea Investment Management AB now owns 1,421,095 shares of the real estate investment trust’s stock valued at $260,743,000 after acquiring an additional 314,769 shares during the period. Point72 Hong Kong Ltd purchased a new position in American Tower during the third quarter valued at approximately $1,156,000. Czech National Bank increased its holdings in American Tower by 6.9% during the 3rd quarter. Czech National Bank now owns 95,149 shares of the real estate investment trust’s stock worth $22,128,000 after acquiring an additional 6,163 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in American Tower by 46.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 25,715 shares of the real estate investment trust’s stock worth $5,980,000 after purchasing an additional 8,195 shares in the last quarter. 92.69% of the stock is owned by institutional investors.
American Tower Trading Down 3.2 %
Shares of AMT opened at $173.54 on Monday. 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 Co. has a fifty-two week low of $170.46 and a fifty-two week high of $243.56. The firm has a 50 day moving average price of $194.98 and a 200-day moving average price of $211.92. The firm has a market cap of $81.09 billion, a price-to-earnings ratio of 73.22, a PEG ratio of 1.31 and a beta of 0.84.
American Tower Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, December 27th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $6.48 annualized dividend and a yield of 3.73%. American Tower’s payout ratio is 273.42%.
Wall Street Analysts Forecast Growth
AMT has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Scotiabank lowered their price target on American Tower from $248.00 to $236.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on American Tower from $260.00 to $234.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Barclays lowered their target price on shares of American Tower from $255.00 to $251.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of American Tower from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.67.
View Our Latest Stock Analysis on AMT
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.
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