Equitable Trust Co. Boosts Stock Position in American Tower Co. (NYSE:AMT)

Equitable Trust Co. boosted its holdings in American Tower Co. (NYSE:AMT) by 86.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,399 shares of the real estate investment trust’s stock after purchasing an additional 10,354 shares during the period. Equitable Trust Co.’s holdings in American Tower were worth $4,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AMT. Fortitude Family Office LLC boosted its position 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 during the last quarter. Northwest Investment Counselors LLC purchased a new position in American Tower in the third quarter worth $30,000. Hara Capital LLC purchased a new position in shares of American Tower during the 3rd quarter valued at $31,000. Legacy Investment Solutions LLC purchased a new position in shares of American Tower during the 3rd quarter valued at $34,000. Finally, Activest Wealth Management lifted its position in shares of American Tower by 431.0% during the 3rd quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the company’s 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 directly owns 62,792 shares in the company, valued at $11,371,631.20. This represents a 20.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

American Tower Price Performance

Shares of NYSE AMT opened at $188.91 on Monday. The firm has a market capitalization of $88.28 billion, a P/E ratio of 79.71, a P/E/G ratio of 1.27 and a beta of 0.84. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 3.27. The stock’s 50-day simple moving average is $188.44 and its two-hundred day simple moving average is $209.63. American Tower Co. has a twelve month low of $170.46 and a twelve month high of $243.56.

American Tower Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were paid a $1.62 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a yield of 3.43%. American Tower’s dividend payout ratio is currently 273.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMT. JMP Securities began coverage on American Tower in a research report on Monday, January 27th. They set an “outperform” rating and a $225.00 price target on the stock. Wells Fargo & Company dropped their price target on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. 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 report on Thursday, December 12th. Scotiabank dropped their price target 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. Finally, BMO Capital Markets dropped their price target on American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, American Tower currently has an average rating of “Moderate Buy” and a consensus price target of $226.23.

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.