Venturi Wealth Management LLC Buys 175 Shares of American Tower Co. (NYSE:AMT)

Venturi Wealth Management LLC raised its holdings in American Tower Co. (NYSE:AMT) by 108.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 337 shares of the real estate investment trust’s stock after buying an additional 175 shares during the period. Venturi Wealth Management LLC’s holdings in American Tower were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake in American Tower by 3.1% in the 3rd 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 buying an additional 635,726 shares during the last quarter. Geode Capital Management LLC increased its stake in American Tower by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 11,213,613 shares of the real estate investment trust’s stock valued at $2,599,074,000 after buying an additional 204,426 shares during the last quarter. FMR LLC increased its stake in 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 last quarter. Charles Schwab Investment Management Inc. increased its stake in American Tower by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,208,967 shares of the real estate investment trust’s stock valued at $1,211,397,000 after buying an additional 243,061 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in American Tower by 0.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,422,273 shares of the real estate investment trust’s stock valued at $981,455,000 after buying an additional 38,436 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Performance

Shares of NYSE:AMT opened at $191.88 on Tuesday. The company’s 50 day moving average price is $185.63 and its two-hundred day moving average price is $207.14. American Tower Co. has a 12-month low of $170.46 and a 12-month high of $243.56. The firm has a market cap of $89.66 billion, a PE ratio of 80.96, a PEG ratio of 1.29 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.

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 given a dividend of $1.62 per share. The ex-dividend date was Friday, December 27th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.38%. American Tower’s payout ratio is presently 273.42%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of American Tower from $215.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Scotiabank lowered their price objective on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Morgan Stanley lowered their price objective on shares of American Tower from $219.00 to $213.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group lowered their price objective on shares of American Tower from $260.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $227.00.

Insiders Place Their Bets

In other American Tower news, CFO Rodney M. Smith sold 16,567 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now 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 document filed with the SEC, which is available at this hyperlink. Company insiders own 0.18% of the company’s stock.

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.