Empowered Funds LLC Purchases 1,758 Shares of American Tower Co. (NYSE:AMT)

Empowered Funds LLC increased its position in American Tower Co. (NYSE:AMT) by 17.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,693 shares of the real estate investment trust’s stock after acquiring an additional 1,758 shares during the quarter. Empowered Funds LLC’s holdings in American Tower were worth $2,145,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMT. Fortitude Family Office LLC boosted its position in shares of 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 valued at $25,000 after acquiring an additional 78 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of American Tower in the third quarter valued at approximately $30,000. Hara Capital LLC bought a new position in shares of American Tower in the third quarter valued at approximately $31,000. Legacy Investment Solutions LLC bought a new position in shares of American Tower in the third quarter valued at approximately $34,000. Finally, Activest Wealth Management lifted its position in American Tower by 431.0% during the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on AMT shares. Citigroup dropped their target price on shares of American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company dropped their target price on shares of American Tower from $215.00 to $195.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Scotiabank dropped their target price on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating for the company in a research report on Thursday, January 23rd. Barclays dropped 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 report on Tuesday, January 28th. Finally, BMO Capital Markets dropped their target price 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. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $225.79.

Insider Buying and Selling

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction 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 in the company, valued at $11,371,631.20. The trade was a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is owned by insiders.

American Tower Stock Down 0.3 %

Shares of NYSE AMT opened at $189.41 on Friday. 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 Co. has a 52 week low of $170.46 and a 52 week high of $243.56. The firm’s fifty day moving average is $187.05 and its 200 day moving average is $209.07. The company has a market cap of $88.51 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.27 and a beta of 0.84.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, December 27th were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Friday, December 27th. American Tower’s payout ratio is 273.42%.

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.