Angeles Wealth Management LLC Buys 231 Shares of American Tower Co. (NYSE:AMT)

Angeles Wealth Management LLC raised its stake in American Tower Co. (NYSE:AMT) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,913 shares of the real estate investment trust’s stock after purchasing an additional 231 shares during the period. Angeles Wealth Management LLC’s holdings in American Tower were worth $351,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC increased its position in American Tower by 5.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 32,137 shares of the real estate investment trust’s stock valued at $5,894,000 after buying an additional 1,722 shares in the last quarter. Family Capital Trust Co grew its stake in American Tower by 1.8% in the fourth quarter. Family Capital Trust Co now owns 23,458 shares of the real estate investment trust’s stock valued at $4,302,000 after acquiring an additional 411 shares during the period. Empowered Funds LLC increased its holdings in shares of American Tower by 17.7% during the fourth quarter. Empowered Funds LLC now owns 11,693 shares of the real estate investment trust’s stock valued at $2,145,000 after acquiring an additional 1,758 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of American Tower by 8.2% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 8,295 shares of the real estate investment trust’s stock worth $1,521,000 after purchasing an additional 626 shares during the period. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of American Tower by 19.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 170,909 shares of the real estate investment trust’s stock worth $31,346,000 after purchasing an additional 27,251 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citizens Jmp upgraded shares of American Tower to a “strong-buy” rating in a research note on Monday, January 27th. StockNews.com downgraded shares of American Tower from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JMP Securities started coverage on American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price target for the company. Scotiabank lowered their price objective on 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. Finally, Mizuho cut their target price on American Tower from $221.00 to $204.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, American Tower currently has an average rating of “Moderate Buy” and an average price target of $226.23.

American Tower Trading Up 0.5 %

Shares of American Tower stock opened at $189.85 on Tuesday. The stock has a fifty day moving average price of $188.44 and a 200-day moving average price of $209.63. The company has a debt-to-equity ratio of 3.27, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $88.71 billion, a PE ratio of 80.10, a P/E/G ratio of 1.27 and a beta of 0.84. American Tower Co. has a 1 year low of $170.46 and a 1 year high of $243.56.

American Tower Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 3.41%. The ex-dividend date was Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

Insider Activity

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction that occurred 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 sale, the chief financial officer now owns 62,792 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

American Tower Company 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.